Uniswap price analysis:  UNI/USD in strong bearish grip as price slides down to $4.87

Uniswap price analysis has been on a steady decline over the past 24 hours, with the token losing over 5% of its value. The UNI/USD pair is currently trading at $4.87, after opening the day at $5.14.

Timeline of Uniswap

The price of Uniswap (UNI) has resumed its sideways movement after failing to break the $6 resistance zone. The cryptocurrency has pulled back above the 21-day line SMA, but below the 50-day line SMA.

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $4.70. The market had a breakout to the upside that found resistance at $5.24, which has caused the market to roll over and head back down.

Uniswap was among the coins that saw their market value slashed by more than $500 million due to the huge sell-off by individual whales and institutional investors during the market crash of May. The post Uniswap Market Cap Drops More Than $800 Million in May appeared first on BeInCrypto.

Uniswap price analysis shows a bearish trend as the price has fallen below the $6.00 mark. The support for Uniswap prices is present at $5.17, and the resistance is seen at $5.90.The UNI/USD pair has been on a downward trend for the last 24 hours.

The DeFi Pulse Index (DPI) is a Decentralized Finance assets index that tracks the underlying tokens' performance. Based on the changes noted in these DeFi tokens, the value of the DPI is set.

On Tuesday, a popular crypto start-up and founders of a leading decentralized exchange of the name Uniswap announced the acquisition of Genie, an NFT marketplace aggregator, as it plans to launch NFT trading on Uniswap soon. “We're excited to announce that we've acquired Genie, the first NFT marketplace aggregator, which lets anyone discover and trade

Uniswap is once again hogging the headlines following the token's comeback in the wake of optimistic signs that the bear market may be winding down. In the past week, UNI, its native token, has seen enormous growth, as the decentralized exchange's trading volumes have rivaled those of Ethereum, the blockchain on which it is constructed.

Uniswap (UNI) has regained momentum as the altcoin has climbed to a high of $5.79. Since May 12, the cryptocurrency fell to a low of $3.67 and continued a downward correction. On June 19, UNI recovered and broke above the moving averages.

Uniswap (CRYPTO: UNI) has acquired Genie, an NFT marketplace aggregator. What Happened: Despite the recent plunge in NFT prices, Uniswap, a cryptocurrency exchange using a decentralized network protocol, announced on Tuesday that it has moved to acquire Genie.

The largest decentralized exchange is set to upgrade with NFTs as Uniswap announced that the platform will be integrating an NFT marketplace aggregator in fall 2022. The integration will allow users to discover and trade NFTs across most platforms.