Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens. It aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.

Let us see the technical analysis of UNI.
<h2><b>Past Performance of UNI</b></h2>
UNI has been on a <a href="https://www.cryptoknowmics.com/news/aave-and-uniswap-uni-technical-analysis-a-relief-bounce-for-bulls/">falling</a> spree since November 9, 2021, when it traded around $26. It has been relatively flat around this price with little dips since October. It touched its recent high of $31 on September 01, 2021. There seems to be a mixed sentiment of focus on other coins along with profit booking. Yet, we will see it to be a strong fundamental altcoin. Today trading around $20 levels with very little movement, traders seem disinterested.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/x/xR987A56.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/xR987A56/">https://www.tradingview.com/x/xR987A56/</a>
<h2><b>UNI Technical Analysis</b></h2>
The moving averages are showing a STRONG SELL on the back of a fall in prices.

The <b>On-balance Volume</b> is quite flat consistent with the prices, thus showing the market has not made up its mind.

<b>RSI</b> has crossed the 40 percent region and is in the oversold region. It mirrored the OBV and price changes showing a lower change in direction.

The MA trend and signal lines both are running parallel with lower sliding.

Built as a decentralized finance protocol, Uniswap has recently become the largest decentralized exchange (DEX) in the world.

Uniswap saw a proposal on its forum on November 20, suggesting that it should migrate to Polygon, a scaling solution. Since Uniswap, an automated market maker (AMM), is built on the Ethereum blockchain, it is plagued with high gas fees and slow transactions. The proposal was by way of seeking authorization from the AMM’s team for the migration. With 7.79 million UNI voting ‘yes,’ it is likely to see a Polygon chain-based Uniswap soon.
<h2><b>Why UNI is a Strong Buy</b></h2>
UNI works on liquidity pools and are the basis upon which decentralized exchanges operate. So crypto investors can lock in pairs of tradable securities to earn passive income. Each successful trade using a given investor's liquidity pays out a 0.3 percent transaction fee to the investor staking his or her crypto. Earning a yield for sitting on crypto assets one expects to appreciate over time is akin to free money for many long-term crypto holders. Owning UNI can help you earn income this way by relying on its popularity.

While short-term indicators and oscillators signify a SELL, It is currently trading near the support levels of $19.218 and is expected to fall through a little further. Thus, booking profits might have been missed if you haven’t already. However, a great time to get into the coin if you have been eyeing it. Wait for the support levels of $21.5052 to retain and purchase more. Expect the prices to go to the pivot level of $25.2042.

UNI Technical Analysis: Growing Importance, Low Interest from Traders. Wait for Fresh Money

While UNI short-term indicators and oscillators signify a SELL, It is currently trading near the support levels of $19.218 and is expected to fall through a little further. Thus, booking profits might have been missed if you haven’t already. However, a great time to get into the coin if you have been eyeing it. Wait for the support levels of $21.5052 to retain and purchase more. Expect the prices to go to the pivot level of $25.2042. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

UNI Technical Analysis: Growing Importance, Low Interest from Traders. Wait for Fresh Money

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