Uniswap Token Technical Analysis | Uptrending at $45
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Let us take a look at the technical analysis of UNI SWAP.
Uniswap is a decentralized finance protocol that is used to exchange cryptocurrencies.
UNISWAP has seen a downfall of 8.64% in the last 24 hours, bringing its prices down to $22.78. The 24-hour trading volume of UNISWAP token amounted to $969,262,053.
The circulating supply of the UNISWAP token currently is 611,643,724 UNI coins and the maximum supply of the token is 1,000,000,000 UNI coins.
The RSI is at 34.98%. However, the bulls are expected to remain in control if the price of the token remains above $20. All in all, the token price is wavy but in a descending trend with a bull flag as per the daily charts. For the uptrend to be valid, Uniswap crypto prices must edge above $30, reversing September 7 losses.
This means aggressive traders might find entries on pullbacks.
However, losses below September 26 bar and $18 may trigger a selloff towards $15—or worse in the days ahead.
Aforementioned, Uniswap coin traders are apprehensive of the uptrend despite the bullish engulfing bar of September 26.
The sellers remain in the commanding position even though the token is above $23. The reversal of the losses incurred in the second half of the last week is also expected. The aggressive Uniswap token sellers might unload on pullbacks higher.
On the reverse side, eventual confirmation of the September 26 bull bar above $30 might trigger more demand, lifting the UNI token towards $45 –or better.
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