Uniswap (UNI) token holders have plenty of reasons to celebrate now.<\/p>\n
Uniswap is among the top gainers among cryptocurrencies, registering a 16.2% price increase over the past week
\nThe token is now on a falling channel pattern but is expected to make a bullish run
\nLowest possible support price for Uniswap is $4.8<\/p>\n
The digital asset is one of the biggest gainers not only for the last 24 hours, but for the past seven days.<\/p>\n
As of this writing, tracking from CoinGecko shows the token is trading at $6.37<\/a>, enjoying a 12.5% gain in value since same time yesterday and a 16.2% increase for the past week.<\/p>\n Unlike the rest of the crypto pack, the Uniswap token seems to be keeping its head above water during this period of uncertainty and volatility for the digital assets space.<\/p>\n This seems a rather odd development, considering the token was stuck in a steady decline during the past five weeks.<\/p>\n It also makes it a bit difficult to assess whether or not the crypto is under any kind of pressure. <\/p>\n Some experts feel it is.<\/p>\n Uniswap On A Falling Channel Pattern<\/p>\n The five weeks that was mentioned earlier when Uniswap token was on a decline isn\u2019t just a simple \u201cperiod of red\u201d for the crypto.<\/p>\n It was a falling channel pattern which is characterized by a bullish rally following the breaking of the overhead trend line.<\/p>\n Source: TradingView<\/p>\n While the token is enjoying significant gains with its current trading price, there is no clear guarantee that the anticipated bullish trend is already happening.<\/p>\n What is clear though is that 70% of all the gains the Uniswap token have made during its last recovery rally was obliterated by the recent crypto market correction.<\/p>\n It has put the cryptocurrency in a position where local support price stood at $5.27.<\/p>\n Where Is Uniswap Token Headed?<\/p>\n As of this writing, data indicate that Uniswap token\u2019s hourly trading is on a small range. If the trend continues, there could be strong movement on its price on the coming days.<\/p>\n The crypto\u2019s support range could consolidate at $5.00 to $4.8 while its resistance level could be seen to be from $6.9 to $8.1.<\/p>\n In crypto space, \u201csupport\u201d refers to the level at which an asset\u2019s price stops falling. \u201cResistance\u201d refers to the range when an assets price stops increasing.<\/p>\n It is important to note that while a bullish rally can easily put Uniswap trading price to the $7 mark, the token is also at risk of hitting a price range below $5.<\/p>\n With that, it is now a waiting game for interested buyers who should keep a sharp eye for the pattern breakout.<\/p>\n\n UNI total market cap at $4.9 billion on the daily chart | Source: TradingView.com<\/a><\/p>\n Featured image from Cointribune, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Uniswap (UNI) token holders have plenty of reasons to celebrate now.<\/p>\n Uniswap is among the top gainers among cryptocurrencies, registering a 16.2% price increase over the past week The digital asset is one of the biggest gainers not only for the last 24 hours, but for the past seven days.<\/p>\n As of this writing, tracking from CoinGecko shows the token is trading at $6.37<\/a>, enjoying a 12.5% gain in value since same time yesterday and a 16.2% increase for the past week.<\/p>\n Unlike the rest of the crypto pack, the Uniswap token seems to be keeping its head above water during this period of uncertainty and volatility for the digital assets space.<\/p>\n This seems a rather odd development, considering the token was stuck in a steady decline during the past five weeks.<\/p>\n It also makes it a bit difficult to assess whether or not the crypto is under any kind of pressure. <\/p>\n Some experts feel it is.<\/p>\n Uniswap On A Falling Channel Pattern<\/p>\n The five weeks that was mentioned earlier when Uniswap token was on a decline isn\u2019t just a simple \u201cperiod of red\u201d for the crypto.<\/p>\n It was a falling channel pattern which is characterized by a bullish rally following the breaking of the overhead trend line.<\/p>\n Source: TradingView<\/p>\n While the token is enjoying significant gains with its current trading price, there is no clear guarantee that the anticipated bullish trend is already happening.<\/p>\n What is clear though is that 70% of all the gains the Uniswap token have made during its last recovery rally was obliterated by the recent crypto market correction.<\/p>\n It has put the cryptocurrency in a position where local support price stood at $5.27.<\/p>\n Where Is Uniswap Token Headed?<\/p>\n As of this writing, data indicate that Uniswap token\u2019s hourly trading is on a small range. If the trend continues, there could be strong movement on its price on the coming days.<\/p>\n The crypto\u2019s support range could consolidate at $5.00 to $4.8 while its resistance level could be seen to be from $6.9 to $8.1.<\/p>\n In crypto space, \u201csupport\u201d refers to the level at which an asset\u2019s price stops falling. \u201cResistance\u201d refers to the range when an assets price stops increasing.<\/p>\n It is important to note that while a bullish rally can easily put Uniswap trading price to the $7 mark, the token is also at risk of hitting a price range below $5.<\/p>\n With that, it is now a waiting game for interested buyers who should keep a sharp eye for the pattern breakout.<\/p>\n UNI total market cap at $4.9 billion on the daily chart | Source: TradingView.com<\/a><\/p>\n
\nThe token is now on a falling channel pattern but is expected to make a bullish run
\nLowest possible support price for Uniswap is $4.8<\/p>\n