Uniswap (UNI)
What is it?
A decentralized exchange built on ETH that relies on an automated market maker (AMM) system, allowing trading without intermediaries. It is considered one of the most important and largest DeFi protocols in the world, with strong and continuous community and technical support.
Uniswap is backed by an active development team, significant investments, and a large community of users and developers. Continuous updates maintain its position as one of the best decentralized platforms.
Current Price: Approximately 11.26
All-Time High (ATH): 44.92 in May 2021
All-Time Low (ATL): Approximately 1.03 in September 2020
Technical and Behavioral Analysis
Support: A strong support level at 10.80 keeps the price stable within an acceptable range.
Resistance: A major resistance at 11.55-11.60 with the possibility of a breakout and a surge towards higher levels if surpassed.
Current Behavior: The price is moving within a narrow range with a slight upward tendency, indicating a balance between supply and demand forces and readiness for a new direction.
Technical Indicators
RSI: Approximately 55, indicating moderate buying momentum without saturation.
MACD: Starting to show positive signs but needs more confirmations.
Trading Volume: Average to high supports upcoming price movements.
💡For Investors: Wait for a breakout above resistance at 11.60 with strong trading volume to enter.
For Traders: Exploit the fluctuation between support at 10.80 and resistance at 11.60 to achieve short-term profits.
Risk Management: Set a stop-loss below the support level at 10.80 to limit losses.
🚨DYOR
