CandleFocus

Uniswap outlook: what $18B in trading volume means for UNI price

Author: Content Editor
The Uniswap Protocol has experienced a significant increase in monthly trading volume, reaching $18.23 billion this month, surpassing the previous high of $7.34 billion recorded in 2023. This surge suggests strong activity and growth in the UNI ecosystem, which could support a price increase for the altcoin. Bulls are targeting a rally to $12.01, but the altcoin has faced resistance at $8.26. If this resistance is overcome, it could lead to a smooth move to $8.37 and potentially a 10% increase to $9.23. Increased bullish actions could propel UNI to $12.01, a 51.06% price increase. On the other hand, failure to overcome $8.26 could result in declines, with bears targeting a close below $7.08 and possible dips to $6.30. Whale activity and technical indicators support the upside stance of UNI, with large-scale investors accumulating and staking the token. The Relative Strength Index (RSI) and Moving Average Convergence confirm potential uptrends. Uniswap exchange reserves have seen a slight dip, which could signal magnified selling momentum. Traders should remain vigilant as UNI is poised for significant swings, with recent liquidations of short and long positions. Overall, Uniswap's high trading volume and positive technical indicators suggest a bullish outlook for the altcoin, with the potential for solid recoveries and a double-digit surge to the $12 value area.

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