Uniswap price analysis: UNI/USD trades at $5.92 after a bullish run

Uniswap price analysis for January 9, 2023, shows bullish momentum. The Uniswap token (UNI) is currently trading at $5.92 and has surged by over 8.2% from the opening price of $15.47.

Timeline of Uniswap

Uniswap (UNI) has surged in the social dominance department, peaking on December 25 at 20.46%. Uniswap is seen to win the popular vote as it topples other cryptocurrencies in the social arena.

The social dominance and social volume of decentralized exchange, Uniswap [UNI] hit its peak in all of the twelfth month on 25 December. According to Santiment, the protocol's social dominance reached 20.28% on the day.

Uniswap price analysis successfully retraced to $5.19 after touching $5.0 yesterday UNI/USD is currently in the range of $5.39 and $5.0 If the bulls take over, it can easily break above $5.

The entire crypto market's price action over the last few days didn't exactly align with investors' interest. Most cryptocurrencies didn't manage to register an uptick, and Uniswap [UNI] wasn't any different.

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.

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.