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- 1 UNI’s price currently trades at $4.544, with an 11% decrease in the 24-hour trading volume.
- 2 The price of UNI is up by 1.62% in the last 7 days and may see a bullish reversal soon.
The price of the UNI token is presently trading near a crucial support zone on a daily timeframe. At present, the UNI price is near its last line of defense. If the token does not receive the support of buyers from the current level it may recover its previous value. Though this feat may be challenging for the bulls as the price is trading under the severe influence of the bulls; facing resistance from the multiple EMA levels.
The present value of the UNI token is $4.544, with its Market cap at $2.63 Billion.
A Stangency in Fees and TVL of UNI Token
The TVL of the Uniswap has been nearly stagnant for the past few months. The value approached its all-time high on 4 May 2021, around $9.912 Billion. After seeing a significant decline where the TVL lost half its weight, it is now attempting to regain buyer support. The TVL of Uniswap is 3.95 Billion.
The fees parameter of the UniSwap Platform is also making a positive rebound after witnessing a decline in early January. The current value of annual fees generated by UniSwap is $416.8 Million.
Medium Volume and Bearish Sentiments in UNI Token
investors are projecting positive sentiments across various social media platforms. The total bullish sentiment metric has surged by 73.23%, whereas the social engagement levels have appreciated by 19.95%.
The 24h volume is seeing a decline of 11.45%, indicating there is a fall in the buying and selling activity between the investors, according to LunarCrush.
Technical Analysis of UNI Price
The RSI line has been constantly taking resistance from the medium line for the previous few days. The current value of the RSI line is 45.36 points, whereas it takes rejection from the 50 RSI points. The 14 SMA is providing support to it around 37.02 points.
The stochastic RSI has reached an overbought level. The current value of Stochastic RSI is 95.70 points.
Summary
The price of UNI presently trading near a crucial support zone on a daily timeframe. The 24h volume is seeing a decline of 11.45%, indicating there is a fall in the buying and selling activity between the investors.
Technical levels
Support – $3.000
Resistance – $5.000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and 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.
