In Uniswap Technical Analysis 2021, we use past statistics, price patterns, RSI, and much other information about THETA to analyze the future movement of the cryptocurrency.
Uniswap (UNI) is a popular decentralized trading protocol that facilitates automated trading of decentralized finance (DeFi) tokens. Moreover, Uniswap aims to keep token trading automated and fully open to anyone who holds tokens, while improving the trading efficiency versus that on traditional exchanges.
Uniswap (UNI) Current Market Status
According to CoinGecko, the Uniswap price is trading at $28.55 with a 24-hour trading volume of $571,690,156, at the time of writing. However, UNISWAP has increased by 2.5% in the last 24 hours.
Moreover, UNISWAP has a circulating supply of 565,738,334.97 UNI and a maximum supply of 1,000,000,000. Currently, UNISWAP trades in Binance, Huobi Global, OKEx, ZG.com, and CoinTiger.
Uniswap Technical Analysis 2021
The recent development and upgrades might push UNISWAP (UNI) to reach new heights. Now, let’s deep dive into the UNISWAP technical analysis 2021. The weekly time frame chart with two views of the pattern of UNISWAP (UNI) is shown below.
The above chart indicates a Three-Phase pattern. These include the Contraction Phase, Expansion Phase, and Mark-Up Phase. More so, the contraction phase occurs after an All-time High, the price contracts back in the next weekly candle, but not below a previous week’s low.
Expansion Phase, a sudden fall on the coin’s price. This happens mainly due to planned selling or stop loss hunting. UNI is currently in the third stage — Mark Up Phase. However, in this phase big whales might enter the market based on the upcoming volume of the coin.
Uniswap (UNI) RSI, MACD, and MA
The below chart shows the Moving Average Convergence/Divergence (MACD) of UNISWAP. Notably, the MACD (blue) made a crossover and stayed just above the signal indicator (orange line). This means that cryptocurrency traders can still expect more bullish days ahead.
In contrast, if the MACD begins to move below the signal indicator and performs a bearish crossover. Then the crypto has a high possibility of reaching new lows.
Now let’s look at the relative strength index (RSI) of UNISWAP. As shown in the chart above, the RSI remains at level 49. This shows that UNISWAP’s price is in neither overbought nor oversold state. However, this gives confidence for the traders to trade without any fear.
Theta’s Moving Average (MA) and Exponential Moving Average (EMA) is shown in the chart below. Moreover, MA is a part of technical analysis that helps traders to recognize trends. While EMA is a type of moving average.
From the beginning of 2021, it is clear that the UNISWAP price has shown many bullish patterns. Furthermore, taking all these into account, UNISWAP could have a competitive market in 2021.
With the ongoing developments and upgrades that are taking place within the Uniswap platform. The cryptocurrency Uniswap has a fantastic future ahead in this crypto market. However, it is possible to see UNISWAP reaching new heights.
Bullish UNISWAP price prediction 2021 is $44. As said above, it may reach great heights, however reaching $100 if investors have decided that UNISWAP is a good investment in 2021.
UNISWAP is listed on many crypto exchanges that include Binance, Huobi Global, OKEx, ZG.com, and CoinTiger. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.
With the ongoing developments and upgrades within the UNISWAP platform, it has the high possibility of reaching its ATH soon.
Uniswap came about as a plan to introduce AMMs on Ethereum to a wider audience. The platform’s creator is Ethereum developer Hayden Adams.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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