UniSwap (UNI) Technical Analysis Report | 17th-November-2022

Uniswap is the name synonymous with the Automated Market Maker and is a Defi trading protocol. UNI is the native token which is currently down by more than 3% while the global volume has plummeted even more by around 31%. The bulls bought the dip and pushed the price back into the range on November 10. The rally is facing strong resistance at the moving averages, which is suggesting selling at higher levels. The bears might try another move and sustain the price below the range, but the bulls are likely to defend the support aggressively.

At the time of writing, UNI was trading at $5.95

UniSwap Chart | 17th November 2022
UniSwap (UNI) Chart

UNI after making the previous bottom of $3.33 (on 19th June) witnessed a sharp rally and the prices almost surged 195% and made a high of $9.83. The asset faced stiff resistance at $10 (Horizontal Trendline) and started moving down. Technically, on a daily time frame, UNI is forming a ‘Symmetrical Triangle’ pattern where the upturned line acts as support whereas the downsloping line acts as resistance. Breakouts on either side with good volumes will further decide the trend for the asset.

Support 2Support 1AssetResistance 1Resistance 2
$3.25$4.5UNI$7.5$10

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in crypto assets viz. Bitcoin, Bitcoin Cash, Ethereum etc. are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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