- UNI is going to release its V3 update on MAY, 6,2021. It will help the traders to be more effective and risk free on Defi platform
- Technical Indicators for UNI price suggests a bullish move. Mean while, UNI/USD pair has also been on bullish trend.
UNI price is seeing a consolidated momentum in the current scenario. Uniswap is going to launch its V3 version tomorrow. It will contain better liquidity features and better oracles.The goal of Uniswap v3 is to make it “the most flexible and efficient AMM ever designed.” Uniswap is adding more fee tiers for the traders so that they can determine their risk levels. It has also been adding cheaper and easier oracles which can help traders. UNI is one of the largest Defi platform and with the release of V3 it can grow bigger. The volume of Defi has also been increased 10X with a less than 3 months.
UNI has a market capitalization of $43,210,345,319 . The volume of coin has seen a increase of 27% in 24 hr time frame.The volume to market capitalization ratio for UNI is 0.07, and if it crosses above 0.8, then a huge buying rush can be observed.
Technical Indicators Suggests Bullish Move For UNI Price
The weekly technical chart of Uniswap highlights a bullish momentum in the price. UNI price is currently seeing a halt from bullish momentum on the daily chart . The coin can see a reversal while going up at $50. Meanwhile a bounce back can be seen while going down at $35. The coin is trailing above 50 and 100 Moving Averages.The 50MA (Red) line is at $33.2, making it temporary support for the current price. On the daily frame ,the coin has formed an accumulation zone. If the price jumps 5 to 10% above the zone than a rally upto $100 can be seen.
RSI(Bullish): It is trailing at 67.9, highlighting its presence in the neutral zone. There is a positive slope formation in the RSI, showcasing a positive sentiment for the price. RSI depicts a bullish momentum for price.
Conclusion
UNI price has filled the investors pocket in the past with heavy returns.UNI/BTC pair is also seeing a bullish trend in the price. An investor should do their due diligence before investing.
Technical Levels
Major Support:$35
Major Resistance:$50
