Uniswap

Uniswap’s (UNI) bullish run from the $10.5 support level peaked at the $17 price zone. Since then, UNI has been retraced slowly and recently re-tested the new support level at $13.5.This presents a good opportunity for new buy opportunities to leverage UNI’s upward trend with double digits gains available.<h3 id="uniswap-the-unicorn-of-decentralized-exchanges-dexs">Uniswap: The Unicorn of Decentralized Exchanges (DEXs)</h3>Uniswap is one of the foremost decentralized exchanges, running on the Ethereum blockchain. Uniswap functions as an automated market maker (AMM), facilitating the decentralized exchange of crypto tokens using liquidity pools rather than the usual market order books.UNI serves as the native token of Uniswap with users able to earn rewards in UNI and participate in governance activities.According to numbers from <a href="https://uniswap.org/?ref&#61;blockhead.co" rel="noopener noreferrer nofollow">Uniswap</a>, the DEX has recorded over $1.7 trillion in trade volume with over 220 Million all time trades. This easily places Uniswap as the biggest DEX in crypto by trading volume.Uniswap keeps token trading automated and completely decentralized while improving trading efficiency with multiple integrations that allow traders, developers, and liquidity providers participate together in an open and accessible financial marketplace.<h3 id="capital-inflows-can-drive-long-opportunity">Capital Inflows Can Drive Long Opportunity</h3><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6fb92fb504cc436e892d4e418668fa23.png" />UNI/USDT on TradingView (4H Timeframe)The Chaikin Money Flow (CMF) climbed above the zero level over the past day and even though it dipped slightly, it registered a reading of &#43;0.05 to highlight the injection of new capital in the short term.This could flip the short term trend from bearish to bullish, if the Relative Strength Index (RSI) moves above the neutral 50.New buyers can wait for a bullish candle close above the support level on the four-hour timeframe before opening a long position. Potential target for the long trade will be $16-$17 for 18-22% gains.Buy levels to considerSupport Level: $13.5Resistance Level: $16.9Take Profit: $16-$16.5Subscribe to Blockhead&#39;s daily newsletter for <a href="https://www.blockhead.co/#/portal/signup" rel="noopener noreferrer nofollow">FREE </a>and stay in the loop on digital assets. Follow our <a href="https://twitter.com/blockhead_co" rel="noopener noreferrer nofollow">X</a> and <a href="https://t.me/blockhead_co" rel="noopener noreferrer nofollow">Telegram </a>for our latest updates too!

Uniswap Presents a Good Long Opportunity. Time to Buy?

Table of Contents

Blockhead

Other articles published on Mar 15, 2024

Solana Price Prediction: SOL Sees Good Growth But These Tokens Are Predicted To Have Bigger Growth

Crypto Analyst Predicts FET to Hit $7: Is the Bull Run Just Beginning?

SHIB, DOT, Cardano prices crash – Do predictions say it’s a good time to buy?

JPMorgan raises price target for coinbase amid Ethereum optimism

DeeStream (DST) Emerges as the New Video Streaming Giant: Ethereum (ETH) & Ripple (XRP) Enthusias...

From Past to Present: The Evolution of Prague Gaming & TECH Summit

Join our free newsletter for daily crypto updates!