Heavy Market Drop: Bitcoin and UNI Analysis🔍Let's dive into today's analysis. The market experienced a significant drop, especially Bitcoin. Altcoins also fell, but since Bitcoin's dominance decreased, Bitcoin's drop was more substantial than that of altcoins. Today, I want to analyze UNI, which has dropped less than Bitcoin. But first, let's look at Bitcoin's analysis.
👑 Bitcoin Analysis
🔍 We're analyzing Bitcoin on the 1-hour timeframe. As you can see, after breaking 64,247, which was a trigger mentioned in previous analyses for short positions, the descending channel was broken from below. This can lead to two scenarios:
Trend Fatigue: The price may re-enter the channel.
Sharp Downtrend: The price may continue a sharp downtrend, which happened in this case with a 9% drop to the 58K low. It was then supported at 59,323 and is currently ranging around 61,300.
🔄 I hope you utilized the short triggers mentioned in previous analyses. Our triggers were 64,247 and 63,583, and with a break strategy, you could have easily taken a position with a risk-to-reward ratio of 5 to 20, depending on which trigger and stop-loss size you used.
📊 The selling volume in the market has increased significantly, and as the price takes a breather, the current buying volume is negligible compared to the selling volume during the downtrend, indicating the strength of the bearish trend.
📈 I am not recommending any long positions because it's illogical to open long positions when the market has such a strong bearish momentum.
📉 For short positions, we currently have the 59,323 trigger. If you want to enter earlier, you can use Dow Theory and open a short position whenever a lower low is made. I believe the price will wait for the SMA 99 to catch up since it's quite far from the current price.
📚 Bitcoin Dominance
Let's look at Bitcoin dominance. As I mentioned, Bitcoin's larger drop compared to altcoins is due to the decline in Bitcoin's dominance. This chart shows the percentage of money in the crypto market that is in Bitcoin.
🔑 Yesterday, with the break of 55.06%, Bitcoin dominance dropped, causing money to flow out of Bitcoin into altcoins. Part of this money became Tether, and part went into altcoins, causing both Bitcoin and altcoins to drop, but Bitcoin more so. Currently, dominance is ranging between 53.74% and 56.31%. With a break of the 55.06 trigger, it can move to the lower end of the range.
🦄 UNI Analysis
🔍 Now, let's analyze UNI. I've previously discussed the Uniswap project and its court case with the US in detail, so let's go straight to the chart.
🔄 In the previous analysis, I mentioned that you could open a long position with a break of 11.567, but a fake breakout occurred, and the price couldn't stabilize above this area. Subsequently, the price dropped past the POC fixed range volume profile and continued down to the 6.412 area. After a brief consolidation, it dropped again to the box low of 8.871.
📉 For shorts, the 8.871 trigger is very suitable, especially if Bitcoin dominance increases, making it a great short trigger. The target for this move could be 8.226, and after that, 6.768. A break of 26.35 in RSI could introduce bearish momentum into the market, making lower targets achievable.
📈 For longs, wait for the price to build a new structure. Until then, wait for a break of 10.82, which overlaps with the POC.
📝In conclusion, the market has shown a significant bearish movement, especially in Bitcoin, which has led to cautious market sentiment. For Bitcoin, short positions remain more favorable due to the strong bearish momentum. For UNI, the short trigger of 8.871 is a key level to watch, while long positions should be approached with caution, waiting for a more defined structure and stronger buying signals. Always ensure to manage risk and wait for clear triggers before entering positions.
UNI
UNI - Playing around the resistance level#UNI/USDT #Analysis
Description
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+ UNI's price is currently moving towards the resistance level around $14-$16.
+ If this resistance is broken, the price could head towards the next resistance around $30.
+ The subsequent resistance level is around $45, which is UNI's previous all-time high (ATH).
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VectorAlgo Trade Details
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Entry Price: 11.36
Stop Loss: 8
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Target 1: 14
Target 2: 22
Target 3: 30
Target 4: 45
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Timeframe: W
Capital Risk: 1-2% of trading amount
Leverage: 5-10x
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Enhance, Trade, Grow
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Feel free to share your thoughts and insights.
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Best Regards,
VectorAlgo
Uniswap (UNI) Soars: A Bright Spot in a Subdued Market
The cryptocurrency market has experienced a period of relative calmness in the past week. However, amidst this subdued landscape, Uniswap (UNI), the native token of the leading decentralized exchange (DEX) Uniswap, emerged as a bright spot. According to CoinDesk Indices' bi-weekly market update, UNI led the CoinDesk 20 (CD20) Index with a stellar 6.8% advance. This surge propelled the token's price above $11, a significant increase from its price of $7 just one month ago.
Understanding the CoinDesk Indices
The CoinDesk Indices (CDI) serve as valuable benchmarks for tracking the performance of various digital assets. The CD20 specifically focuses on the top 20 digital assets by market capitalization, offering a snapshot of the health of the leading cryptocurrency projects. UNI's impressive gain atop the CD20 leaderboard highlights its outperformance compared to other major players in the market.
Factors Potentially Contributing to UNI's Rise
While the exact reasons behind UNI's recent surge remain debatable, several factors could be at play:
• Increased DEX Usage: The decentralized finance (DeFi) space, where Uniswap reigns supreme as a DEX leader, has witnessed a resurgence in user activity in recent months. This could be driving demand for UNI as users require the token for governance and transaction fee discounts on the Uniswap platform.
• Potential Speculative Interest: The broader cryptocurrency market might be experiencing a shift in investor sentiment towards DeFi projects. UNI, as a prominent token within the DeFi sector, could be benefiting from this speculative interest.
• Developments on the Uniswap Protocol: The Uniswap team might have introduced new features or upgrades to the protocol that have garnered positive attention from the crypto community. This could be attracting new users and investors to the platform, thereby increasing demand for UNI.
A Look at the Broader Market Context
It's important to remember that UNI's rise occurred within a relatively muted market environment. The CoinDesk Market Index (CMI), a broader index encompassing roughly 180 tokens across various sectors, did not exhibit a significant uptrend. Some leading alternative Layer 1 blockchain, like Internet Computer (ICP) and Near Protocol (NEAR), experienced price declines during the same period.
What Does This Mean for UNI Investors?
UNI's recent performance is certainly encouraging for investors holding the token. However, it's crucial to maintain a cautious and realistic perspective. The cryptocurrency market remains inherently volatile, and short-term price movements can be subject to various factors, some of which may not be entirely predictable.
Looking Forward: Where Does UNI Go from Here?
The sustainability of UNI's upward trajectory hinges on several factors. The continued growth of the DeFi ecosystem, ongoing developments within the Uniswap protocol, and broader market sentiment towards DeFi will all play a role in shaping UNI's future price performance.
Conclusion
Uniswap's (UNI) recent surge atop the CoinDesk 20 Index signifies a period of outperformance compared to other prominent cryptocurrencies. While the reasons behind this rise are multifaceted, the increasing adoption of DeFi and potential investor interest in the sector could be contributing factors. However, navigating the cryptocurrency market requires a balanced approach. Investors should stay informed about developments within the Uniswap protocol, the broader DeFi landscape, and overall market trends to make informed decisions regarding UNI. By remaining vigilant and employing sound investment strategies, investors can capitalize on potential opportunities within the ever-evolving cryptocurrency landscape.
Uniswap(uni) Technical Analysis: Potential Pump In 4H Time Frame🔍Project Overview
Uniswap is a decentralized finance (DeFi) protocol based on Ethereum, allowing users to act as liquidity providers or to swap tokens. It has gained significant attention due to its extensive features in the DeFi space.
🧩Key Support and Resistance Levels
Major Resistances:
11.567
13.338
Major Supports:
9.412
8.947
8.226
6.768
📅Current Situation
Resistance Level: The price of Uniswap is near the resistance level of 11.567. A breakout above this level could lead to further price increases.
📊Volume and Candles: Trading volume is increasing, and green candles indicate strong buying pressure, suggesting potential for more upward movement.
🕸Relative Strength Index (RSI)
RSI Level: The RSI is at 63.07. A breakout above 65.93 could be an early confirmation for breaking the 11.567 resistance level.
👨💻Trading Scenarios
Long Position (Buy)
Entry Condition: Breakout above 11.567 confirmed by high trading volume and RSI breaking above 65.93.
Strategy: If confirmed, consider opening a long position, targeting the next resistance levels at 13.338 and higher.
Short Position (Sell)
Entry Condition: Reaction to the 9.412 level and its subsequent break on the second attempt.
Strategy: If confirmed, consider opening a short position, targeting the next support level at 8.947. If there's no reaction to this level, wait for a break below 8.947 before entering.
Weekly Time Frame Analysis
🛒Spot Buying Strategy: Given the SMA 7 and 25 cross and the strong recent candles, buying in spot can be suitable. The target for this strategy could be the all-time high (ATH) at $43, providing approximately 300% potential profit.
📝Uniswap is currently in a strong bullish trend, and breaking key resistance levels could lead to further price increases. The outlined technical analysis and trading strategies can help guide your trading decisions.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
UNI: Pullback in UptrendTrade setup : Following a bullish breakout from Channel Down pattern , price broke above 200-day MA, which signaled resumption of uptrend. Price rallied +50% to $12.00 and now it pulled back to $10.00 support zone, which could be an attractive swing trade entry in Uptrend with +20% upside back to $12.00. Stop Loss at $9.25, below the prior swing low. Uniswap is the biggest DEX – see On-chain data, and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.
Pattern : Pullback in Uptrend . Price remains in an Uptrend but has pulled back, which could present a 'buying dip' opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance. (concept known as polarity).Learn to trade key levels in Lesson 3.
Trend : Short-term trend is Down, Medium-term trend is Strong Up and Long-term trend is Up.
Momentum is Bearish (MACD Line crossed below MACD Signal Line) BELOW days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance : Nearest Support Zone is $8.00. Nearest Resistance Zone is $12.00, then $17.00.
UNI ( uniswap ) tm:1hHello traders.
I hope you doing well.
These areas are based on my personal strategy and I will share it with you.
Open a sell position on the supply area or open a buy position on the demand area.
Your entry point, stop loss, and target point are based on money management and the amount of money in your trading account.
But I promise you that by trading in the areas of my trading strategy, you will definitely make a profit, because these areas, although they seem simple, are my experience of 8 years of learning and trading.
I hope you will achieve maximum continuous profit with me by using supply and demand areas.
Good luck traders.
Mohammad Goodarzi
Market Analysis and UNI Coin Technical Analysis🔍The market has not yet made the sharp move we expect in the coming days, but I recommend keeping a close eye on the chart. The volume is very low, and the market could start its upward move in the next few days.
📆Coin of the Day: UNI (Uniswap)
About the Project
Uniswap is a decentralized exchange (DEX) project that allows users to trade cryptocurrencies in a decentralized environment without the need for identity verification. Additionally, because it is a decentralized exchange, anyone can become a liquidity provider and earn fees from the trades conducted on the platform.
🧩Technical Analysis
4-Hour Timeframe
After the previous analysis, where I mentioned that breaking 8.226 could lead us to the target of 10.521, we saw this happen as the price not only reached but surpassed this target, hitting a peak of 11.733. Currently, the market is in a correction phase, and we have retraced to the 0.382 Fibonacci level. Given the increasing volume of red candles, we might expect further correction to the 0.618 Fibonacci level, which overlaps with 9.806 and could even reach 9.028.
📊Volume Analysis
The volume of red candles is increasing, indicating a strong bearish correction phase. If the correction continues, it could reach the 0.618 Fibonacci level or even 9.028.
📈Trading Positions
Long Position
Entry Trigger: Break above 11.733
Target: 13.338
Confirmation: A break above 54.02 on the RSI could confirm the entry of bullish momentum into the market.
Short Position
Entry Trigger: Break below 9.028
Target: Short-term targets can be determined based on lower timeframe analysis.
Confirmation: A break below 40.35 on the RSI could confirm the entry of bearish momentum into the market.
For scalping, a short position can be opened on the current red candle, but it is recommended to move to lower timeframes for better precision.
🔑Key Levels
Support: 9.028, 9.806 (0.618 Fibonacci level)
Resistance: 11.733, 13.338
Main Trigger for Short: 6.768 (although it is currently far from the price, it is important to note for future analysis)
📝UNI is currently in a correction phase after a significant upward movement. Traders should watch key support and resistance levels and use volume and RSI indicators to confirm entries. Long positions should be considered above 11.733, while short positions should be approached with caution, potentially entering below 9.028 for a safer setup. Always keep an eye on market volume and RSI for confirmation of the trade direction.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
🫶If you enjoyed this analysis and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
Uniswap and UNI price under "SEC pressure"💥Yesterday, the SEC announced "another victim of regulation" and sued Uniswap.
Today Uniswap commented on the event and in short, they are ready to fight. And no matter how much the SEC looks for "securities," the reality is that tokens traded on secondary markets like Uniswap are not investment contracts, but just digital files.
How do you like these statements from both sides?
Holders of CRYPTOCAP:UNI got scared and started selling sharply, which caused a 20% drop in the price of #UNIUSDT.
😱 But the most interesting is yet to come: large investors, owners, creators, and everyone else interested in #Uniswap need to keep the price in the $6.50-7.80 range
🙅♂️ $6.50 is a critical level for the #UNIUSD price, and fixing the price below this level will break the wave structure.
_____________________
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Bullish signal ---- UNIAs an indispensable leading protocol in DeFI, Uniswap received the Wells Notice a month ago. In the past, the SEC paid more attention to the compliance of chains, stablecoins and CEX, and rarely sent Wells notices to DeFi protocols. This also illustrates the SEC’s opposition to the distribution of protocol income to holders. This is similar to stock dividends.
But just like ETH, although the SEC opposes staking, it does not affect the approval of the ETH ETF. Uniswap will not be disrupted by the SEC.
As the largest DEX, Uniswap has a TVL of US$6 billion, equivalent to the TVL of the leading chain, and a 24-hour trading volume of US$4 billion, almost monopolizing decentralized trading activities. Although many DEXs have forked Uniswap, their market share has not been affected. The team will continue to develop V4 this year to meet the needs of personalized liquidity provider. From a fundamental perspective, Uniswap is good.
After experiencing a sharp pullback, prices have recovered from the decline that received the Wells Notice. Our TSB indicator prompted a BUY signal two days ago. The current columns remains above the wavy area, which is still a suitable time to open a long position.
Introduction to indicators:
Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated.
KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Uniswap Foundation Reveals It has $41 Million in Funding The Uniswap Foundation has disclosed that it holds $41.41 million in fiat cash and stablecoins on hand, with an estimated runway through the end of 2025. The foundation plans to use the fiat currency and stablecoins for grant commitments and operating activities, while the CRYPTOCAP:UNI tokens are earmarked for employee token awards. The foundation plans to disburse $25.77 million through 2024 and 2025, with $2.94 million reserved for grants previously committed and $12.7 million for operating expenses. The majority of grant disbursements in Q1 have gone towards protocol developers and governance, with the rest being allocated to innovation, research, and security.
The disclosures come ahead of an onchain vote to upgrade the protocol so its fee mechanism can reward CRYPTOCAP:UNI token holders that have staked and delegated their tokens. Activating a fee switch will mean that CRYPTOCAP:UNI holders are better off at the expense of the protocol's liquidity providers, who have earned fees levied on token swaps so far. The fee switch proposal's authors expect that the new mechanism will incentivize more active delegation and build more engagement in the governance process. However, previous proposals to activate the fee switch have failed to pass on prior occasions. If the May 31 vote results in a different outcome, fees won't be turned on immediately.
Technical Outlook
Uniswap native token ( CRYPTOCAP:UNI ) is down 0.65% down from an overbought territory currently having a Relative Strength Index (RSI) of 72.11 which is poised for further decline.
UNI/USDT Breakout alert!! Indicating bullish momentum for UNI. 💎Paradisers, #UNI is indeed a coin worth monitoring closely.
💎 UNI has successfully broken out of the reaccumulation resistance, signaling bullish momentum for further upward movement. The current price has yet to retest the support level, previously a resistance, around the 8.27 area.
💎 However, if UNI manages to break above the supply area directly without first retesting the support, it could indicate a strong upward trend, potentially allowing the price to reach our target strong resistance area.
💎 Conversely, if UNI fails to break above the supply area and experiences a significant rejection, there's a possibility of downward movement towards the support level at 8.827. This scenario is more likely if UNI hasn't retested the support area yet.
💎 UNI must bounce off the support during the retest. Failure to do so, resulting in a breakdown below the support, would validate the bullish invalidation. In this case, the price could revisit the support of reaccumulation or even experience further decline.
MyCryptoParadise
iFeel the success🌴
Uniswap Introduces ERC-7683 Token Standard, Breakout Lurking Uniswap Labs has introduced ERC-7683, a new token standard designed to streamline cross-chain trading solutions. The standard, which aims to establish a unified framework for intents-based systems to specify cross-chain actions, was proposed in collaboration with the Across Protocol. The standard outlines the steps and standards tokens must meet to work with the Ethereum network and trade smoothly with other tokens.
The proposed standard allows for the implementation of an API for cross-chain trade execution systems, creating a standard set of rules and interfaces for various blockchain networks to facilitate trading. It also calls for a generic structure called CrossChainOrder and defines a standard interface for a smart contract called ISettlementContract.
Uniswap Labs aims to streamline the process of trading assets across different blockchains, making it easier for users to engage in cross-chain transactions while ensuring compatibility and interoperability between various systems. BME:UNI , Uniswap's governance token, is poised to benefit from the development, but its current market statistics make its future uncertain.
Technical Outlook
Uniswap token ( BME:UNI ) is up 10.65% as of the time of writing consecutively experiencing bullish and bearish trends. The asset is in the consolidation zone gathering liquidity for a surge above new levels.
📈UNI Market Analysis: Key Levels and Trading Strategies🎲🔍Let’s dive into today’s analysis. The market is currently resting in an uptrend, and the coin we will analyze today is one of the most reputable projects in the DeFi space—Uniswap (UNI). As a decentralized exchange, Uniswap is among the oldest and best platforms, trusted by many whales and widely accepted in the crypto community.
⏰In the 4-hour time frame, Uniswap has been trading within a large range box for over a month with very low volatility. It has recently been rejected from the top of this range and may move towards the bottom. Given the prolonged sideways movement and lack of momentum in the market, indicators and oscillators like RSI or SMA, which rely on momentum, are not reliable at this time. Therefore, we will rely solely on price action and volume to identify potential scenarios.
🧩The upper boundary of the range is at 8.226, and the lower boundary is at 6.768. We need to wait and see which level the price breaks. If the price breaks above 8.226, the market will turn bullish on the 4-hour time frame, with a target of 10.521. For short positions, you can enter if the price breaks below 6.768. It’s important to note that the price rebounding from 0.382 and moving to break 6.768 is not significant because the price has formed a new structure, and there is no momentum to push it further down. Thus, Fibonacci retracement is not applicable here.
🔫However, this does not mean we should not open positions at all, as breaking this strong and significant support could trigger another bearish move. The target for this move would be 5.671. It’s crucial to observe the volume when the box is broken. If the price breaks above the box, the buying volume should increase, and if it breaks below, the selling volume should increase.
📝In summary, Uniswap (UNI) is in a prolonged range with key levels at 8.226 and 6.768. A breakout above 8.226 could lead to a bullish move targeting 10.521, while a breakdown below 6.768 could initiate a bearish move towards 5.671. Monitoring volume is essential to confirm the direction of the breakout. Proper risk management and attention to these key levels will be vital in navigating potential trades.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
Take CAUTION with these ALTS : ALGO, LTC, XRP, HBARIt's time to review which altcoins showed sign s of strength during the recent new Bitcoin All Time High (ATH) ... and which showed no strength.
Together with the failed breakout we observe on Algorand, THESE altcoins didn't fare much better. There are a few more, but let's focus on these alts for today:
What we're comparing this chart to, is the obvious increase we have seen on BTC (new ATH) and the following increases across other altcoin markets:
During the previous cycles; we often saw the altcoin market rally a week or two AFTER a new BTC peak.
From this, we can determine that most of the bigger altcoins (by market cap) should have rallied by now. In conclusion; we need to re-evaluate the fundamental arguments for these alts - why were they not able to show signs of strength like other alts? Why were the sellers so overwhelming compared to other alts?
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Uniswap Mobile Application Went Live with Blast IntegrationUniswap ( BME:UNI ) app goes live on Android with Blast integration for faster, cheaper swaps and multilingual, multi-currency support.
The Uniswap ( BME:UNI ) mobile application has finally gone live for the public, which will see the integration of Blast, a Layer-2 scaling solution for Ethereum. It permits swaps to be carried out directly within the app, making the process more seamless and improving the user experience on the decentralized exchange (DEX).
Uniswap’s Improved UX with Blast
The Blast protocol integrated into Uniswap ( BME:UNI ) provides significant advancements in transaction speed and lowered gas fees. Blast tackles Ethereum mainnet’s scalability challenges, allowing Uniswap ( BME:UNI ) users to benefit from quicker and cheaper transactions. This synergy becomes extremely important when the network is having a lot of congestion, and so the speed of transactions slows down and the fees go high.
The mobile app now accepts native yield for cryptocurrencies such as Ethereum (ETH) and $USDB stablecoin. Presently, instead of active participation in other DeFi protocols, users can get an interest from these holdings directly via the application. Because of this feature, investing becomes less complicated, and the overall utility of the app increases.
Swap Functionality and Liquidity Provision
Liquidity pools for Uniswap v2 and v3 are available within the Uniswap mobile app. Native yields can be earned by liquidity providers in v2 pools if one of the two tokens in the pool is either $USDB or wrapped ETH (wETH). This is like holding these tokens in a Blast wallet. But since concentrated liquidity is relatively complex, v3 pools on Blast do not have native yield yet.
The use of limit orders that are automatically triggered upon reaching certain price conditions is allowed on the app. This tool is a must-have for traders who want to maximize their trading strategies without constantly monitoring market moves.
Global Accessibility and Multilingual Support
The mobile app’s multilingual and multicurrency support illustrates Uniswap’s global accessibility. Customers are free to surf and transact in over seven languages, such as English, Spanish, Japanese, Portuguese, French, traditional Chinese, and simplified Chinese. Multilingual support is available to cater to a huge number of users from different cultural backgrounds, making the website accessible to a wider audience, i.e. global.
No Price Consolidation Has OccurredThe price of UNI has recently broken through the lower boundary of the orange box during a correction phase. This breach has caused the price to close below this level. If stronger bearish patterns form in this area, the price may decrease further to the lower support zone. On the other hand, price consolidation has not yet occurred on the weekly timeframe. If the price begins to rise and consolidates above the orange resistance box, an uptrend in price is expected to resume.