|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Uniswap (UNI) Breaks Past $8.20 Mark, Signaling Potential for Further Gains
Oct 11, 2024 at 12:08 am
Uniswap (UNI) has achieved a commendable milestone by breaking past the $8.20 mark, a recent high that positions it favorably amidst a predominantly bearish trend in the broader cryptocurrency market. This significant price increase reflects growing excitement surrounding UNI and suggests the potential for further gains.
Cryptocurrency price today, Oct. 8: UNI breaks past $8.20, SAFEMOON price up 10%
Uniswap (UNI) price achieved a significant milestone by breaking past the $8.20 price level on Thursday. This marks a recent high for UNI, positioning it favorably amidst a predominantly bearish trend in the broader cryptocurrency market. The rising price reflects growing excitement surrounding UNI and suggests the potential for further gains.
UNI Key Statistics
The price of Uniswap (UNI) has successfully broken past the $8.20 milestone, underscoring its upward momentum. Currently, UNI is trading 2.18% above its maximum price over the last 30 days and 7.59% above its 7-day high. This impressive surge is complemented by significant gains from its recent lows, with Uniswap rising 27.07% from its monthly low and 25.34% from its 7-day low. This strong recovery trajectory solidifies Uniswap’s position, poised for further growth.
UNI/USD 4-hour chart. Source: Finbold
A glance at the UNI/USD chart demonstrates that Uniswap is currently testing critical resistance levels. The Parabolic SAR suggests a bullish trend, with the price remaining above the indicator, while the MACD is showing positive momentum, reflecting potential for further upside. A breakout above $8.50 could pave the way for a test of the $9.00 and $9.50 resistance levels in the coming days.
Conversely, immediate support is identified at $7.50. If this level fails to hold, UNI could retrace towards $7.00, with further support established around $6.50. The current market sentiment and technical indicators imply that the bulls may continue to maintain control.
Will Uniswap’s Ecosystem Growth Propel It Past $8.50?
Uniswap’s price performance is influenced by several crucial factors, including the platform's ecosystem developments. The recent announcement of UniswapX on the mobile app is a key development in this regard.
The enhancement allows users to access aggregated liquidity without incurring gas fees and ensures protection against failed transactions. This improvement in user experience is likely to attract more traders and liquidity providers.
Moreover, Uniswap Labs is preparing for Uniday at Devcon, scheduled for November 11. This event will showcase talks from community voices, demonstrations from developers, and workshops focused on innovation within the DeFi space, further highlighting the active community involvement that underpins Uniswap’s growth.
Where Might Uniswap (UNI) Prices Be Headed in the Upcoming Months?
As long as the community remains engaged and the ecosystem continues to expand, UNI could very well break past key resistance levels. This could open the doors for significant upward potential, positioning Uniswap as a leader in the evolving DeFi landscape.
UNI/BTC Performance Insight
Uniswap (UNI) is currently showing a solid performance against Bitcoin (BTC), trading at 0.0001282 BTC with a notable 6.48% rise for the day. The momentum appears to be in favor of the bulls, as indicated by the positioning of the Parabolic SAR and the MACD indicators.
The Parabolic SAR is supporting the price from below, signaling that the upward trend is intact. Traders typically interpret this as a green light for continued buying pressure, as long as the dots remain under the price candles.
UNI/BTC 1-day chart. Source: TradingView
Moreover, the MACD is confirming this bullish sentiment with its lines diverging upwards. The MACD line has crossed above the signal line, which is often considered a reliable sign of building momentum. The histogram further supports this view, with increasing green bars reflecting stronger buying activity. Looking ahead, the 0.0001400 BTC level stands as the next critical resistance, which could slow down UNI’s advance if it faces selling pressure around that zone. On the downside, 0.0001200 BTC appears to be providing a reliable support level, protecting the asset from deeper pullbacks.
Uniswap Layer 2 Volume Surges Past $380 Billion
In related news, Uniswap Labs has showcased the remarkable growth within its ecosystem, particularly in all-time Layer 2 (L2) volume. The volume has seen impressive increases over the years, with 2021 recording $6.42 billion. This figure surged to $60.79 billion in 2022 and continued to rise significantly, reaching $179.46 billion in 2023. As of 2024, the total volume has skyrocketed to an astonishing $383.01 billion.
All-time L2 volume on the Uniswap Protocol:
2021 → $6.42B 2
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- NFT Trading Volumes Have Remained Relatively Flat Since July. Will There Be a Resurgence? Or Is the Market Settling into a New Normal?
- Oct 11, 2024 at 04:25 am
- As per data from IntoTheBlock, looking at the trading volume of NFTs, we can notice some stagnation since July. The level of activity in trading is
-
- Qubetics Presale Raises $1.2M, Stands Out with Gasless Transactions Amidst EOS and Quant's Market Momentum
- Oct 11, 2024 at 04:25 am
- Imagine participating in a crypto presale that has raised $1.2 million across three stages. Qubetics ($TICS) stands out by offering gasless fees in today's competitive market.