Long

$UNI appears to be a clear trend reversal.

Updated

was purchased yesterday with a very high volume, and it appears to be a clear trend reversal.

Uniswap , along with the DeFi scene, has lagged behind Bitcoin in the past three months as Bitcoin has been on the rise, and the sentiment in the cryptocurrency markets has improved. From the chart, it can be seen that this project has the potential to see significant upside in the coming months, provided, of course, that UNIBTC enters an uptrend.

The next UNIUSD resistance levels I would consider are $6.15, which is a significant accumulation level. If we break above it, the next levels are $9 and $13. These would require some sort of cryptocurrency and altcoin bull market to materialize.

The UNISWAP project itself has introduced the concept of a V4 update, and developers as well as the broader development community are excited about the proposed content of the update. Substantial progress has already been made in implementing concrete code for this update. This update is expected to be a significant improvement in DEX usability, including various new features, including limit orders.

It's a good idea to keep an eye on what ETH (Ethereum) and ERC tokens are doing because UNI (Uniswap) operates within the same ecosystem. Same with Ethereum Cancun upgrade which is prerequisite for V4 update of Uniswap.

Note

First target achieved. 50% of the trade closed. The rise halted at the $6.2 level where the highest volume profile is. If this level holds and accumulation occurs, the next rise could take us to the $9 level.

herkuljee

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