Uniswap price analysis: UNI shows dormancy at $7.32 after a brief bullish spell

Uniswap price analysis reveals that the market is following a dormant trend below the $7.5 mark and is likely to remain there. The prices opened at $7.41 and have been consolidating below the $6.9 mark since then.

Timeline of Uniswap

The recent crypto credit crisis has shown the resilience of DeFi protocols as opposed to centralized lenders. Among those is Uniswap which has managed to stay afloat in these intense market conditions.

Uniswap [UNI], the automated liquidity provider, looks to be reaching for the stars in its NFT invasion. About a month ago, it announced that it had acquired Genie, the NFT marketplace aggregator.

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $6.75. The market had a breakout to the upside that found resistance at $7.44, which has caused the market to roll over and head back down.

Since June 23, the price of Uniswap (UNI) has regained upside momentum as the cryptocurrency trades in the bullish trend zone. Today, UNI is trading at $7.04 at press time. Last week, the uptrend stalled below the $8.00 resistance zone.

Ruben has more than a decade of experience at big tech and crypto companies.  The post Former Coinbase and Instagram director Will Ruben joins Uniswap as VP of product appeared first on The Block.

Uniswap price analysis continues to show a bullish reading, as price rose more than 5 percent over the past 24 hours to reach as high as $7.63. UNI has been on an extended uptrend since July 13, 2022, when price was at $5.26.

Trading volume on decentralized exchange (DEX) Uniswap (CRYPTO: UNI) nearly equals that of Coinbase Global Inc (NASDAQ: COIN). What Happened: A Monday report from crypto market data provider Kaiko detailed how Uniswap's market share of volume relative to Coinbase has surged from 27% to nearly 50% since January.

Cryptocurrency analytics platform CoinGecko revealed in its recently released second-quarter (Q2) report for 2022 that the top decentralized exchanges (DEX) existing on various networks have generally seen a significant decrease. Leading DEXs accounted for $274 billion worth of funds in spot trading in Q2.

Uniswap price analysis reveals that the market is currently following a massive downwards trend below the $7.2 mark and is likely to decline even further. UNI/USD had tremendous momentum the previous day, July 16, 2022, when the price went significantly from $7.6 to $7.2.

Robinhood is expanding its crypto offerings by adding support for the native asset of decentralized crypto exchange Uniswap (UNI). This week, the trading giant added support for Uniswap, which is valued at $6.79 at time of writing, up nearly 13% in the past seven days, outpacing a stagnant crypto market.