Uniswap price surge: Can UNI double again?
Things about Uniswap price increase
Highlights:
Since November, the price of Uniswap (UNI) has been rising rapidly, and it has risen by 160% so far! Now, institutional investors are jealous and want to get a piece of the pie. They think that the price will rise by another 100%!
Now the DeFi market is also looking to become popular. UNI's big players have begun to pour money into exchanges, depositing millions of millions. It seems that the price of UNI will continue to rise!
Since the surge in November, Uniswap (UNI) has been adjusting, leaving some opportunities for those who want to buy. This medium-sized altcoin, with a market value of about $16.5 billion and a daily trading volume of about $657 million, has attracted institutional investors who want to add some variety to their cryptocurrency portfolios.
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This practical DeFi altcoin has risen more than 160% since the beginning of November, even breaking through the previous barrier of $16.5. The UNI/BTC pair is also starting to reverse, and it looks like it is about to enter a stage of big gains.
Uniswap's big players are preparing to make big money! According to on-chain data, more than 800,000 UNI tokens (worth more than $13 million) have been deposited in the exchange in the past two days. This morning, someone found that a big player with $89 million in cryptocurrency deposited 1.49 million UNI to Binance, worth more than $24 million!
Earlier this week, the Uniswap team also took action and sent nearly 5 million UNI tokens to Coinbase Prime. This is their first big move in more than 4 years!
In the next few weeks:
The price of UNI against the US dollar has been hovering at the key position of $16, and it looks like it is about to start the next big rise. Moreover, the weekly relative strength index (RSI) has reached more than 70%, which is the first time this year!
Looking at the current trend, the price of UNI may rise by 100% in the short term. Even if there is some adjustment in the short term, there is still a stable support above $14
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