Dec 28, 2022
by
Everyday we create memories that are attached to places, but how will future generations know what happened to us?
Metablox is saving our most important memories on the blockchain, and you can own the real world places the memories happened.
Originally posted here.
By: Christian Encila
Uniswap (UNI) has surged in the social dominance department, peaking on December 25 at 20.46%. Uniswap is seen to win the popular vote as it topples other cryptocurrencies in the social arena. Here’s a quick look at how it is performing: UNI price drops 1.26% Uniswap critical support spotted at $5.09 UNI dominates the crypto space in terms of social dominance On the other hand, UNI still looks bearish, which could linger on for quite some time. According to data by CoinMarketCap, UNI price was trading at $5.07, down 5.2% in the last seven days. Related Reading: NEAR Struggles As Bulls Aim To Flip $1.45 Resistance Into Support Source: CoinMarketCap The price is dominantly bearish and could even slide further down if the coin fails to hold on to its current support level. The MACD histogram has fallen below zero, which indicates an increase in the amount of pressure being exerted by sellers. UNI Technical Indicators: Seller Aggressiveness Uniswap’s technical indicators show that sellers are more aggressive than buyers in the coming days. Uniswap, with the daily trading session, hinted at the formation of a descending triangle pattern. It also demonstrates a long-term bearish trend considering that the price dangles within the 100 and 200 SMA. Chart: TradingView The upper Bollinger Band sits at $5.25, while the lower Bollinger Band is currently at $5.32, which suggests a bearish trend for Uniswap. This market pattern is seen to continue for an extended period. Related Reading: Chiliz (CHZ) Finds Cover At This Level For Some Temporary Relief UNI total market cap at $3.8 billion on the daily chart | Chart: TradingView.com On the brighter side, Uniswap’s price may increase once it successfully breaches the $5.4 level. However, if the coin barrels past the key support level, it could aggravate the losses. The chart shows that the market is dominantly bearish. The MACD is overall negative and shows immense selling pressure. Now, in order to reverse the negative sentiment, the bulls should maintain the support level and push the prices way up. UNI Search Volume Among Traders Climb In terms of social dominance and volume, UNI sits at 6,902 crests, which means that search volume has increased among the traders. Traders now see the spike in social dominance as an opportunity to rake in profit from UNI. In fact, Binance funding has increased by 0.009%. However, despite the spike in investor interest, Uniswap still needs to increase in value. In November, Uniswap rolled out an NFT aggregator as the market was bullish then. However, the tide has turned, and UNI NFTs did not seem to tickle the fancy of many investors as NFT trades have plummeted to only $7,562. While UNI is dominating social volume and dominance, this might not go on for long, as the social volume and price seem to plunge further in the coming days.
Uniswap (UNI) has surged in the social dominance department, peaking on December 25 at 20.46%. Uniswap is seen to win the popular vote as it topples other cryptocurrencies in the social arena.
Here’s a quick look at how it is performing:
UNI price drops 1.26%
Uniswap critical support spotted at $5.09
UNI dominates the crypto space in terms of social dominance
On the other hand, UNI still looks bearish, which could linger on for quite some time. According to data by CoinMarketCap, UNI price was trading at $5.07, down 5.2% in the last seven days.
The price is dominantly bearish and could even slide further down if the coin fails to hold on to its current support level.
The MACD histogram has fallen below zero, which indicates an increase in the amount of pressure being exerted by sellers.
UNI Technical Indicators: Seller Aggressiveness
Uniswap’s technical indicators show that sellers are more aggressive than buyers in the coming days.
Uniswap, with the daily trading session, hinted at the formation of a descending triangle pattern. It also demonstrates a long-term bearish trend considering that the price dangles within the 100 and 200 SMA.
The upper Bollinger Band sits at $5.25, while the lower Bollinger Band is currently at $5.32, which suggests a bearish trend for Uniswap. This market pattern is seen to continue for an extended period.
On the brighter side, Uniswap’s price may increase once it successfully breaches the $5.4 level. However, if the coin barrels past the key support level, it could aggravate the losses.
The chart shows that the market is dominantly bearish. The MACD is overall negative and shows immense selling pressure. Now, in order to reverse the negative sentiment, the bulls should maintain the support level and push the prices way up.
UNI Search Volume Among Traders Climb
In terms of social dominance and volume, UNI sits at 6,902 crests, which means that search volume has increased among the traders.
Traders now see the spike in social dominance as an opportunity to rake in profit from UNI. In fact, Binance funding has increased by 0.009%. However, despite the spike in investor interest, Uniswap still needs to increase in value.
In November, Uniswap rolled out an NFT aggregator as the market was bullish then. However, the tide has turned, and UNI NFTs did not seem to tickle the fancy of many investors as NFT trades have plummeted to only $7,562.
While UNI is dominating social volume and dominance, this might not go on for long, as the social volume and price seem to plunge further in the coming days.
Blockchain
Breaking news, updates, reviews and more. Packaged and delivered daily.
Login
About Us
Be An Author
Privacy Policy
No thanks, I don’t like to chatting with awesome people about stuff I love.
