Token

Uniswap

Bitcoin ETF

Uniswap Price Analysis: On Tuesday, the crypto market witnessed a notable uptick as <a href="https://coingape.com/blog/when-will-btc-price-breakout-happen/">Bitcoin price</a> jumped 3% to surpass the $70000 threshold. The altcoin market was quick to follow up with the token of the largest Ethereum-based decentralized exchange Uniswap emerged as the highest gainer among top assets. With a 20% intraday jump, the UNI price teases a breakout from $11.8 resistance to bolster further growth. 
Also Read: <a href="https://coingape.com/bitcoin-etf-inflows-propel-blackrock-fidelity-invesco-into-top-10-etf-issuers-list/">Bitcoin ETF Inflows Propel BlackRock, Fidelity, Invesco Into Top 10 ETF Issuers List</a> 
<h2 id="b-can-uni-convert-11-8-resistance-to-support-b">Can UNI Convert $11.8 Resistance to Support?</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/e/EYWuMO7d.png" alt="BINANCE:UNIUSDT Chart " width="1946" height="893">
 <figcaption class="wp-caption-text">
 Uniswap Price Analysis| Tradingview
 </figcaption>
</figure> 
The last three weeks have been notably bullish for the <a href="https://coingape.com/trending/uniswap-leads-crypto-weekly-gains-in-users-await-fee-sharing-vote/">Uniswap</a> token showcasing a price rally from $6.7 to $11.39, registering a growth of 69%. Amid this rally, the crypto buyers managed to escape a month-long accumulation signaling a major trend reversal. 
<blockquote>
 The rising UNI coin price also managed to develop a higher low at $9.2 Amid the recent market consolidation. This formation of a local bottom at 50% Fibonacci retracement indicates a healthy retracement for buyers to regain bullish momentum.
</blockquote> 
With Bitcoin price surging past $70000, the <a href="https://coingape.com/uniswap-uni-price-jumps-17-in-fresh-breakout-with-1-2-million-liquidations/">UNI</a> price jumped dramatically to tease a breakout from $11.8. As per recent data from Coinglass, the Uniswap coin witnessed a long liquidation of $510.8k today. 
If the bullish momentum persists, the buyers could flip the $11.8 resistance into potential support. The post-breakout rally could chase the potential target of $13.3, followed by $17. 
On a contrary note, if the resistance at $11.8 persists, the <a href="https://coingape.com/price/uniswap/">Uniswap price</a> could revert lower, entering a fresh consolidation trend. 
Also Read: <a href="https://coingape.com/markets/crypto-price-analysis-will-ethereum-price-3500-market-uncertainty/">Crypto Prediction: Ethereum Price Risks Losing $3,500 Support, End Of The Road For Bulls?</a> 
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical indicator</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">BB Indicator: An uptick in the upper boundary of the Bollinger Band indicator accentuates the buyers to regain their momentum.</li> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The rising ADX slope at 29% suggests that the recovery is still strong and not nearing exhaustion, indicating that buyers may drive a prolonged rally.</li> 
</ul> 
The post <a href="https://coingape.com/markets/uniswap-price-analysis-will-uni-token-15-market-recovery/">Uniswap Price Analysis: Will UNI Token Surpass $15 Amid Market Recovery?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Uniswap Price Analysis: Will UNI Token Surpass $15 Amid Market Recovery?

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