Uniswap price analysis: UNI sets up bullish move after rising above $6.52 barrier

Uniswap price analysis is bullish today after the price broke the $6.64 barrier to rise up to $6.52 over the past 24 hours. The price levels have covered an upwards range, as the bullish momentum has proved to be quite steady.

Timeline of Uniswap

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $6.34. The market had a breakout to the upside that found resistance at $6.43, which caused the market to roll over and head back down.

PRESS RELEASE. Digital currency made splashes in the 2010s with a promise of decentralization and ultimate user privacy. However, most well-known crypto exchange giants, like Binance or Coinbase, are CEXs by essence. It means they are centralized exchange platforms, offering custodial wallets to users and collecting user data.

Uniswap price analysis for October 17th, 2022, reveals the market following a complete bullish movement, obtaining significant positive momentum, signifying a gain of positivity for the UNI market.

Uniswap [UNI], one of the largest decentralized exchanges, collected the highest amount of fees in the last three months. However, the collected fees failed to translate into revenue.

Uniswap price analysis reveals a bearish trend, as a steady decrease in price has been detected today. The most recent analysis shows that the cryptocurrency is covering the range downwards again as the selling pressure has returned in the market.

Uniswap is not looking good right now. UNI, the governance token of the decentralized exchange platform bearing the same name, must be able to muster enough energy to regain momentum and hit its target.

Cryptocurrencies have been suffering higher volatility since the bear took control. For example, the fledgling crypto coin Bitcoin price plummeted to a low of $18,363 on Oct 13 and then reversed to $19,354 today.

The developers behind the world's largest decentralized crypto exchange (DEX) by trading volume are securing $165 million in additional investment amid the ongoing bear market. Hayden Adams, the chief executive of Uniswap Labs, says his team raised that total in a Series B funding round led by Polychain Capital.

Amid the widespread recovery in broader markets, the Uniswap token price rebounded from the $5.66 support. A bullish reversal surged the prices 10% higher from this support and continued with the formation of the inverted head should pattern.

Uniswap Labs, the company behind one of the world's leading decentralized exchanges, has announced the company has raised some $165 million in Series B funding. The funding round was led by California-based Polychain Capital, with participation from longtime investors Andreessen Horowitz (a16z), Paradigm, SV Angel, and Variant.