• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Uniswap

Uniswap (UNI) Price Struggles To Overcome $6.8 Resistance

Christian Encila by Christian Encila
5 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

A Uniswap (UNI) recent market downturn has forced UNI’s trading range to shrink significantly. During the bull market in July, UNI jumped by more than 60 percent in just over two days, prompting the subsequent fall.

After this price increase, the weeks that followed showed a reversal pattern known as a “head and shoulders,” which eventually led to a price decline.

The price showed significant volatility over a 16-day period, as evidenced by the market’s historical statistics. This volatility pointed to a fierce battle between bulls and bears.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Related Reading: Terra Dries Up As LUNA Sheds 40% From Recent High

Chart: TradingView.com

The bears clearly won this war, as the price of Uniswap fell by 17.30 percent, as shown in the figure.

Prior to a price reversal, the regression channel shows the declining trend even more strongly. Due to this turn of events, the cost of Uniswap has risen from $5.745.00 to $6.459.00, a price hike of 13.54 percent.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Nonetheless, the coin went through another period of volatility as price swings were driven by bulls and bears. It happened after Uniswap bulls attempted a break above the 50% Fibonacci retracement line.

Chart: TradingView.com

The bears prevailed once again in the end. The coin’s price dropped by an additional 15.54 percent after this victory. The loss of 13.54 percent in nine days was fully wiped out by the catastrophe.

Uniswap’s trend has been on the rise since the most recent market meltdown, which has brought us to our current position. But a problem occurred as a result of the movement; it narrows to a point towards the conclusion.

The leading trend line served as resistance. The Stoch RSI rating indicates that the currency experienced a single strong sell signal at this point.

Related Reading: Chainlink Integrates New Tech, And It’s Going Green – Healthy For LINK?

Uniswap Chart: TradingView.com

This alerted Uniswap speculators and traders to the possibility of another market correction. In this predicament, UNI’s price can only move in two directions: up or down.

1 – the price will surpass the psychological resistance of $6.8 and continue to rise, and

2 – Uniswap price will not stabilize at the 50% Fibonacci retracement level before retracing.

This speculative activity prevents dealers and investors from conducting business in the area. It stands at such a vital place as any breakouts can result in big gains and losses.

As of this writing, Uniswap bulls are aiming to hold their position above the 50% Fib mark.

If the price breaks upward, it will gain speed towards the 38.20 Fibonacci level and may perhaps surpass it. If the price falls, it should not fall below the $5.87 support level.

UNI total market cap at $4.5 billion on the daily chart | Source: TradingView.com

Featured image from Somag News, Chart: TradingView.com
Tags: altcoinbitcoincryptoUNIUniswapuniusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Chiliz

Chiliz Chain 2.0 Goes Live, Sending CHZ Up 7.06%

2 hours ago
Polygon MATIC MATICUSDT Price

MATIC Spikes As Ethereum Whales Show Interest, Buying Over 2 Million Tokens

3 hours ago
Litecoin

Litecoin Sets Eye On $107, But It Needs To Cross This Major Hurdle

5 hours ago
bitcoin

Another Bitcoin Metric Turns Bullish With Price At $23,000 And Forecasts More Profits

6 hours ago
Crypto Powerbridge Technologies mining

Bearish Signal? DCG Starts Selling Grayscale Crypto Shares At Almost 50% Discount

8 hours ago
crypto

This Little-Known Crypto Erupts 1,300% In Last 24 Hours – Find Out Here

12 hours ago

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 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.