Uniswap price analysis: UNI price hits $5.25 in bearish rally

Uniswap price analysis shows a downtrend in the market as the price function deflates down to $5.25. This bearish trend emerged as sellers regained control and the UNI/USD pair struggled to break above resistance at $5.22.

Timeline of Uniswap

In a recent report by Delphi Digital, it was stated that Uniswap along with Curve outperformed major AMM (Automated Market Makers) and order books in terms of market cap and volume.

The Uniswap (UNI/USD) Decentralized Autonomous Organization (DAO) has unanimously voted in favor of a proposal to make the governance process frictionless. Uniswap is essentially a decentralized protocol that users leverage as a means of trading tokens built on top of the Ethereum (ETH/USD) blockchain.

Decentralized finance (DeFi) platform Uniswap (UNI) is announcing that users can now buy cryptocurrencies on its web app using credit or debit cards and through bank transfers. The leading decentralized cryptocurrency exchange (DEX) is rolling out support for the new payment methods in partnership with MoonPay, a fintech company that builds payment infrastructure for crypto.

During this ongoing crypto winter, most of the cryptos have been struggling to increase their values, and Uniswap [UNI] was also among them. However, despite its underwhelming performance, UNI received notable interest from the whales.

Uniswap price analysis shows an upward trend for cryptocurrencies today. Bulls have been able to raise the price to $5.32 in the past day despite the price has been bumping up against negative resistance for the previous few days.

Decentralized crypto exchange Uniswap (CRYPTO: UNI) has partnered with MoonPay to accept credit and debit card purchases. What Happened: Uniswap, which runs on the Ethereum (CRYPTO: ETH) blockchain, stated: “Decentralized exchanges (DEXs) are the safest way to trade digital assets compared to their centralized counterparts.

In the latest development, decentralized exchange Uniswap (UNI) announced that they are now allowing users to buy digital assets on the Uniswap Web App using a debit card, credit card, or bank transfer. This facility is now available to 160 countries across the world.

Today Uniswap price analysis shows an increasing bearish tendency as the price has followed a descending movement in the last 24 hours. The price was on its way to recovery late yesterday, as more bullish activity was being preserved.

Uniswap price analysis reveals that UNI is currently trending towards its $5 support as the wall of sellers appears. The wall of sellers, often referred to as a “bearish flag” or “resistance line,” is an indication that traders may be taking profits, or bearish sentiment could be rising.

According to Santiment, the decentralized exchange Uniswap has not experienced any kind of recovery. Santiment recently tweeted that Uniswap is one of the outliers in the active addresses measure, indicating that the DEX's native token UNI is underperforming relative to other cryptocurrencies.