Uniswap (UNI) Consolidation after Breakout: Can the Uptrend Continue in the Future?

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After a strong rally in November, Uniswap (UNI) has recently entered a consolidation phase, creating an entry opportunity for more buyers. As one of the leading projects in the decentralized finance (DeFi) space, UNI's macro bullish sentiment is attracting the attention of institutional investors. Here is an in-depth analysis of its market dynamics and future potential:

UNI's recent performance and market data

Price and market capitalization:

Since the beginning of November, UNI price has risen by 160% and has broken through the previous resistance level of $16.5.

The current fully diluted valuation is about $16.5 billion, with an average daily trading volume of $657 million.

On-chain activity:

Santiment data shows that more than 800,000 UNI (worth $13 million) have been deposited on exchanges in the past two days.

Whale activity: A whale with $89 million in his portfolio deposited 1.49 million UNI (worth $24 million) to Binance.

The Uniswap team transferred nearly 5 million UNI to Coinbase Prime earlier this week, which attracted market attention.

Key technical indicators:

Daily chart: UNI is retesting the key resistance/support area above $16, and a breakout could enter the next uptrend.

Weekly RSI: The relative strength index broke through the 70% overbought area for the first time this year, indicating strong upward momentum.

Macro bullish sentiment support: Uniswap's strong performance is consistent with the overall growth trend of the DeFi space, which is quickly becoming an important pillar in the cryptocurrency space.

Increased interest from institutional investors: Fully diluted valuations and stable trading volumes have attracted more institutional investors seeking diversification, laying the foundation for long-term gains.

Possible future catalysts: The active transfer of the team and the transactions of whales may indicate important updates or cooperation, and the market may usher in new positive news.

Uniswap's current consolidation phase provides investors with more entry opportunities. Supported by on-chain data and technical analysis, UNI is expected to rise further in the short term and become the leader of the DeFi market recovery. If UNI breaks through the key resistance level, its price may rise rapidly, ushering in a new parabolic growth phase.

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