NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

DEX Token UNI Trims Gains by Half in Brutal Sell-Off; Rebound Ahead?

Yashu Gola
Yashu Gola
1 year ago
2 mins read
DEX Token UNI Trims Gains by Half in Brutal Sell-Off; Rebound Ahead?

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

UNI logged a rollercoaster opening session last week after rising by almost 2800 percent in just less than 24 hours.

The token reached a record level of $8.59 following its free distribution among the users of UniSwap, a top decentralized cryptocurrency exchange by volume. It supplied about 150 million UNI tokens to its liquidity providers, traders, and SOCKS token holders.

Nevertheless, UNI came under severe selling pressure as beneficiaries started dumping it in open markets to secure maximum profits. The result was a 50 percent downside correction, as shown in the chart below.

UNI, UNIUSD, UNIBTC, cryptocurrency, crypto, decentralized exchange

UNI loses half its gains against the US dollar. Source: TradingView.com

Technically, the UNIUSD rate formed a Falling Wedge pattern (black) as it fell lower in the last few days. It is a bullish reversal indicator that begins wide at the top and contracts as prices move lower. Eventually, the asset breaks out of the Wedge area to the upside to retest the pattern’s top (~$8).

Fundamentals

UNI expects to find buyers at lower levels due to its parent project, UniSwap’s feasibility as a sustainable decentralized finance project. It utilizes an automated market-making system instead of a traditional order-book. Users pool together two assets that they trade against one another according to the price determined by the ratio between the two.

UniSwap provably solves the issue of high spreads for illiquid assets on order-book exchanges by providing incentives to market makers. They can earn attractive returns by merely depositing their crypto-assets to UniSwap’s audited liquidity tool.

The exchange worked without a governance token so far. But an emerging competitive threat in the name of SushiSwap led the UniSwap team to launch UNI. The token holders can now use it to govern the UniSwap protocol.

That aspect expects to add value to UNI. The UniSwap team has clarified that it would distribute the tokens to their users until it exhausts the supply limit of 1 billion UNI in the next four years. Meanwhile, traders can also sell or purchase UNI now across multiple exchanges, including Binance, Coinbase, OKEx, Huobi, and others.

What UNI Technicals Say

As a newbie token, UNI has no relevant trading history that could reveal potential entry/exit levels.

So far, a 20-hourly moving average wave is serving as a price target depending on the direction of the trade. Meanwhile, the Falling Wedge pattern stressed on a fluctuation downtrend for a while, with its levels acting as support and resistance.

The token’s hourly Relative Strength Indicator points to a price recovery as its momentum reading flashes “oversold.” UNI, therefore, could be in the process of bottoming out before logging a sharp retracement price rally.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP

XRP Eyes Breakout As Analysts Predict Rally Alongside Real-World Adoption

Despite its choppy price action in the past seven days, the mood in the XRP camp is increasingly bullish. Particularly,...

Scott Matherson 7 hours ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Ethereum’s price action is gearing up for a surge of epic proportions, according to crypto technical analyst MasterAnanda on the...

Scott Matherson 10 hours ago
Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

The price of Bitcoin (BTC) has not been particularly impressive over the weekend, which has been a somewhat consistent theme...

Opeyemi Sule 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP Price Strengthens

XRP Price Strengthens — Eyes Set on Key Resistance Levels

Aayush Jindal 1 hour ago
Ethereum Price Pushes Higher

Ethereum Price Pushes Higher — Eyes Set on Next Major Barrier

Aayush Jindal 2 hours ago
Bitcoin Price Resumes Upward Move

Bitcoin Price Resumes Upward Move — Can It Break New Highs?

Aayush Jindal 2 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    12 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    13 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    2 days ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.