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- Uniswap one of the leading DEX who is set to launch its V3 iteration on the Avalanche
- Technical indicators of UNI suggest a consolidated trend in price.It has seen a drop of 1.4% in the intraday session.
Uniswap is one of the biggest DEX which operates on Ethereum blockchain.It was created in 2018 by Hayden Adams and quickly became one of the most popular DEXs in the cryptocurrency ecosystem.Uniswap uses an Automated Market Maker model and uses liquidity providers to maintain the supply of tokens.. Liquidity providers earn fees on trades made in their pool, proportional to the amount of liquidity they provide. It has become a popular choice for traders and investors due to its low fees and ease of use.Uniswap is ready to launch its V3 iteration on the Avalanche. UNI token holders can participate in the voting process and upcoming proposals.
Uniswap has seen a fall of 86% from it’s all time high. Various analysts are expecting a strong rise in the future.
UNI has a market cap of $2..82 billion and is ranked 24th in the crypto verse. Volume of the UNI has seen a fall of 0.72% in the intraday session. Volume to market cap ratio of UNI is near 0.02 suggesting a downside trend in price.
Bulls Of UNI Are Looking For A New High
The weekly technical chart of UNI hints towards a consolidated trend in price.It is forming a weak bullish candle which can push the asset price. UNI is currently trading near the value of $5.94 with a gain of 2% in the intraday session. Meanwhile the resistance of the asset price can be seen near $8.UNI support can be seen near the value of $4.It is currently trading below the 50 and 100 Daily Moving Average.There can be a negative crossover in the future which can push the asset price down.
RSI of the asset price is near 46 suggesting its presence in the neutral zone.There is a weak upside slope which highlights an upside trend in price.
Conclusion
Uniswap is set to launch its v3 iteration on the Avalanche .Various analysts are expecting a strong upside trend in price.
Technical Levels
Major Support:$4
Major Resistance:$8
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
