Uniswap price analysis: UNI consolidates around $5.70 as bears fail to push below support

Uniswap price analysis indicates the digital asset is currently consolidating at around $5.43. The cryptocurrency market has seen a lot of volatility in the past few days, with prices swinging up and down erratically.

Timeline of Uniswap

Uniswap's [UNI] liquidity market share has grown tremendously over the past quarter, as per a tweet posted on 7 November by crypto analytics firm Messari Liquidity on @Uniswap nearly doubled its share of the total crypto market cap over the last year and settled at 0.4% market dominance as of the end of Q3.

Uniswap price analysis indicates a major decline in the price value today. The bears have been continually winning over the price charts, as the bearish trend has been quite dominating for the market.

A new report claims that 98% of all tokens listed between 2018 and 2021 on decentralized cryptocurrency exchange Uniswap were scam-related, otherwise known as rug pulls . A typical rug pull scam takes place when developers lure investors into putting their money into new crypto projects created only for them to pull out prematurely.

The most recent Uniswap price analysis confirms a decreasing trend for cryptocurrency today as the coin value has degraded. The market has been following a bearish trend after reaching a high of $7.75 in the last 4-hours, with resistance currently present at $7.74 for UNI/USD pairs.

Uniswap [UNI] made headlines as it stood to be the highest revenue-generating protocol as of 6 November. Furthermore, things also looked quite optimistic for the blockchain owing to a few other positive developments.

The latest Uniswap price analysis shows a massive bullish trend after the bulls reclaimed above the $7.30 level. Resistance for the coin is present at $7.74, However, a break above this level is expected to push the coin towards $8.00 and $8.10 levels in the near term.

The Uniswap price analysis is showing bullish signs once again after an extended period of consolidation. The price of UNI/USD started to rise later in the day, and the bulls are successfully continuing their endeavor today as well, as the price has increased significantly over the past few hours.

Uniswap price analysis shows that the cryptocurrency has undergone loss once again. After the bullish price function of yesterday, the bearish pressure has returned, and bears have taken the lead again.

Uniswap price analysis shows a downtrend today as UNI/USD  price consolidates $6.89.The market is expected to see lower prices as the bearish pressure continues. Price has currently set a new support level at $6.73 while it faces resistance at the $7.10 mark, which is just above the current market price.

Blockchain technology has proven to be extremely disruptive and empowering in both the public and private computer application industries. However, the most recent Uniswap data illustrates that crypto investors have been slammed by a wave of rug pulls.