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Wednesday, October 5, 2022
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    HomeMarketUniswap could return to $16 even as selling pressure continues to build

    Uniswap could return to $16 even as selling pressure continues to build

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    Uniswap (UNI) ended the week sharply decrease after lower than spectacular CPI knowledge from the US. However regardless of this promoting stress, the outlook on the token is bullish, no less than within the close to time period. Evaluation to comply with beneath, however listed here are some highlights:

    • At press time, the coin was buying and selling at $10.55, down by round 9% in 24 hours

    • Uniswap (UNI) additionally noticed some bear stress on the finish of the buying and selling week Friday.

    • However there’s nonetheless an opportunity the coin might simply bounce again to $16 within the coming few days.

    Knowledge Supply: Tradingview

    Uniswap (UNI) – Worth prediction and evaluation

    As Friday buying and selling was closing in, it was clear that UNI was on the sting. The coin was looking for adequate demand across the $11 mark. Nevertheless, this didn’t occur. Though $11 proved to be a robust assist zone, UNI fell beneath that. 

    At press time, the coin was buying and selling at round $10.55. Nevertheless, plainly UNI has stopped the bleeding. It’s retesting the $11 mark, and we count on it to rise above that quickly. The large problem now will probably be to see if there’s sufficient demand on the $11 assist zone. 

    Primarily based on the traits out there and indicators on the chart, it’s possible that the coin will rise sharply from $11. We count on it to bounce again to $16 or thereabout.

    Do you have to put money into Uniswap?

    Uniswap (UNI) is the most important decentralised alternate on the Ethereum chain. It is probably not one of many largest tokens out there, nevertheless it has attracted plenty of traders. If you’re in search of a confirmed asset with a constant historical past of delivering returns, then UNI is ideal. Additionally, there is a chance for a short-term play right here for bulls who need to trip the uptrend towards $16.



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