Uniswap Coin Forecast: Can Record Low Volatility Hit New Highs?

• During the last year, the price of the crypto declined by -33.66%.
• Uniswap founder apologizes for his attempt to take down the V4 Fork.

The Uniswap crypto is a DAO-type crypto and the platform is a DeFi. The derivative volume of the crypto has declined by -15.23%, the current open interest is -0.61%, and the long/short ratio of the UNI cryptocurrency is 1.0333.

This crypto asset has higher short liquidation as compared to long liquidation of $6.83K in the last 24 hours. The market cap of the crypto has advanced by +1.82% in the last 24 hours. It increased to $2.5 Billion, but there is a decline of 17.17% in trading volume in the last 24 hours.

The volume/market cap ratio for the crypto is 2.14% with a TVL of $3.2 Billion. It has a circulating supply of 577.5 Million UNI tokens, whereas a total supply of 1.0 Billion UNI. The fully diluted market cap of the cryptocurrency is $4.3 Billion.

Uniswap Technical Analysis in Daily Time Frame

The UNI crypto price has been consistently declining from higher levels. On the weekly price frame, the UNI token is consolidating inside a falling wedge pattern. The overall trend of the crypto is bearish and that’s why the probability of the price’s breakdown is higher.

On the weekly timeframe, the market is trading below the 200-day Exponential Moving Average. It shows bearishness in the market because the stock has consistently declined from the higher levels for a very long time.

The RSI for the UNI coin is bearish as it is consistently trading below the 50-level. It has not hit the overbought level for a very long time.

UNI Technicals Summary 

Based on the technical overview tool of Tradingview, we can observe that the oscillators are neutral. The EMAs are bearish and we can predict the market direction to be bearish based on the current technical data.

Conclusion

The Uniswap token price is still trading inside the falling wedge pattern. Its price is still in a downtrend in the larger timeframe. The RSI and the EMA are acting bearish. Therefore, the price can decline further if the market breaks below the wedge pattern. The price may continue to stay volatile to positive till then.

Technical Levels: 

• The support levels for Uniswap Crypto are $0.17576 and $3.5764
• The resistance levels for the Uniswap Crypto are $12.5 and $20.07

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 or stock comes with a risk of financial loss.