UNI Registers 16% Rally In Last 7 Days

Uniswap token holders (UNI) have many reasons to be happy now.

  • Uniswap ranks among the best gainers of cryptocurrencies with a 16.2% price rise over the week
  • Although the token currently has a falling channel pattern, it is likely to go on a bullish run.
  • Uniswap has the lowest possible support price at $4.8

This digital asset has been one of the top gainers for not just the past 24-hours but also for the seven-day period.

At the time of writing, CoinGecko tracking shows that the token traded at $6.37. It has enjoyed a 12.5% value gain since yesterday’s close and a 16.2% rise in the last week.

Uniswap appears to have a different approach than the other crypto-packs. It seems like it is able to keep its head above water in this time of uncertainty and volatility within the space of digital assets.

This is a strange development considering that the token has been on a downward trend for five weeks.

Also, it is difficult to tell if crypto is actually under pressure.

It is believed to be true by some experts.

Uniswap On A Falling Channel Pattern

The five weeks that was mentioned earlier when Uniswap token was on a decline isn’t just a simple “period of red” for the crypto.

This was a falling channel pattern that is characterised by a bullish rally after the break of the overhead trendline.


The token has seen significant gains in trading, but there’s no guarantee the bullish trend anticipated is happening.

It is evident that the crypto market correction has erased 70% of the gains made by the Uniswap token during the last rally.

This has placed the cryptocurrency at a local support price of $5.27.

Where is the Uniswap token headed?

As of this writing, data indicate that Uniswap token’s hourly trading is on a small range. The trend could continue, and there may be significant movement in its price over the next few days.

The crypto’s 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.

In crypto space, “support” refers to the level at which an asset’s price stops falling. “Resistance” refers to the range when an assets price stops increasing.

Noting that a bullish rally could easily push Uniswap’s trading price up to $7, it is possible for the token to hit a range of $5 to $5.

Now it’s a wait game for potential buyers, who need to keep an eye out for any pattern breakouts.

 Source: TradingView.com| Source: TradingView.com

Featured image taken from Cointribune. Chart: TradingView.com

Get more Crypto News at CFX Magazine