27.1.2021 - Uniswap (UNI / USD)
Hi Traders!
Uniswap - under this name we know, of course, the largest decentralized exchange, and in today's analysis, we will look at their cryptocurrency. In daily trading volumes, Uniswap often outperforms Binance. Many DeFi projects and their tokens can be purchased on this platform. Of course, this fundament is also reflected in the price growth of UNI. What do we see on the chart?
First of all, we must say that such growth is not at all surprising, and the chart has prepared for that. As you can see, we were first in a phase of decline and then we saw a movement to the side. If we stretch the trend lines from the bottom, then we first see a slight increase, which has escalated over time. It finally went through the fourth rotation.
Is Uniswap currently ready to decline? It's logical, but we don't see any signs of rejection yet. We still hold all the trend lines on the chart and we have not yet fallen through any of them. We also keep the trend line at RSI, where we still have enough space. Uniswap will have to roll into the final exponential or fall across the trend line. On the positive side, however, Uniswap has grown gradually and created quite stable supports, which we will probably test in the near future.
It is, of course, possible that we are nearing the end of growth, but as the well-known rule says "trend is your friend until the end". So the trend is still positive and we have to wait until it falls across the trend line.
May the crypto be with you!
Uniswap - under this name we know, of course, the largest decentralized exchange, and in today's analysis, we will look at their cryptocurrency. In daily trading volumes, Uniswap often outperforms Binance. Many DeFi projects and their tokens can be purchased on this platform. Of course, this fundament is also reflected in the price growth of UNI. What do we see on the chart?
First of all, we must say that such growth is not at all surprising, and the chart has prepared for that. As you can see, we were first in a phase of decline and then we saw a movement to the side. If we stretch the trend lines from the bottom, then we first see a slight increase, which has escalated over time. It finally went through the fourth rotation.
Is Uniswap currently ready to decline? It's logical, but we don't see any signs of rejection yet. We still hold all the trend lines on the chart and we have not yet fallen through any of them. We also keep the trend line at RSI, where we still have enough space. Uniswap will have to roll into the final exponential or fall across the trend line. On the positive side, however, Uniswap has grown gradually and created quite stable supports, which we will probably test in the near future.
It is, of course, possible that we are nearing the end of growth, but as the well-known rule says "trend is your friend until the end". So the trend is still positive and we have to wait until it falls across the trend line.
May the crypto be with you!
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