Uniswap Price Could Skyrocket While PancakeSwap Price Collapses

The Uniswap (UNI) price has broken out from a descending resistance line and could be in the initial stages of a long-term upward movement. Conversely, the PancakeSwap (CAKE) price shows weakness and is expected to break down from its ascending support line.

Timeline of Pancakeswap, Uniswap

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the two most valued cryptocurrencies in the world, traded lower on Tuesday ahead of the US Federal Reserve meeting. Dogecoin (CRYPTO: DOGE), meanwhile, recorded sharp gains on Tuesday after Elon Musk disclosed that he is the Chief Executive Officer of post-merger company after Twitter deal, according to a filing made with the U.S.

Uniswap price analysis shows a downtrend today as UNI/USD  price consolidates $6.89.The market is expected to see lower prices as the bearish pressure continues. Price has currently set a new support level at $6.73 while it faces resistance at the $7.10 mark, which is just above the current market price.

Blockchain technology has proven to be extremely disruptive and empowering in both the public and private computer application industries. However, the most recent Uniswap data illustrates that crypto investors have been slammed by a wave of rug pulls.

The Uniswap decentralized exchange experienced an increase in demand and utility in the last seven days. A reasonable outcome since the market moved from a previously low volume period earlier in October to a high volume phase towards end-month.

Uniswap (UNI) is in a sideways trend as buyers hold the price above the moving average lines. The altcoin is trying to retest the resistance at $7.00. Buyer penetration is a challenge at the $7.00 resistance level.

Uniswap price analysis predicts an increasing trend for cryptocurrency today. Although the price was facing bearish resistance earlier, the bulls have managed to bring the price to $6.97 in the last 24 hours.

Recent Uniswap price analysis shows a bearish swing in the market resulting in UNI correcting down to $6.64. A decrease in price levels has been observed in the last 24 hours as well, which is quite discouraging for the buyers.

PancakeSwap CAKE price is at crucial crossroads despite closing at a higher note for the last 5 days. The post PancakeSwap CAKE Price Needs This Catalyst to Surge Above $5 appeared first on BeInCrypto.

Uniswap price analysis reveals that the UNI/USD pair has started to gain bullish momentum after a period of consolidation at around the $7.00 level. The daily chart shows that the price has broken out of a descending triangle pattern and is currently trading at $7.07.

The PancakeSwap team stated on 10 October that they had submitted a proposal for the deployment of the Decentralized Exchange (DEX) on the recently created Aptos blockchain. On 21 October, voting officially started.