{"id":1066,"date":"2021-06-14T11:59:10","date_gmt":"2021-06-14T15:59:10","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=1066"},"modified":"2021-06-14T11:59:39","modified_gmt":"2021-06-14T15:59:39","slug":"uniswap-technical-analysis-uniswap-may-surge-to-43","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/uniswap-technical-analysis-uniswap-may-surge-to-43","title":{"rendered":"Uniswap Technical Analysis: Uniswap May Surge to $43 if The Middle BB Is Cleared"},"content":{"rendered":"\n
\"Uniswap
Uniswap Technical Analysis Surge June<\/figcaption><\/figure>\n\n\n\n

Week-to-date, Uniswap (UNI)<\/a> is down 10 percent, adding 10 percent on the last day against the USD. However, the technical analysis of Uniswap shows it is at break-even against ETH<\/a> and BTC<\/a> in the past 24 hours.<\/p>\n\n\n\n

Meanwhile, trading volumes are up, suggesting confident bulls. On the last trading day, UNI trading volumes rose 44 percent to around $396 million.<\/p>\n\n\n\n

Uniswap (UNI) Market Overview<\/h2>\n\n\n\n

Brutal as sellers may be in the last weeks, there is a ray of hope for bulls.<\/p>\n\n\n\n

Admittedly, a close above $30 and the middle BB would likely trigger demand, lifting UNI to new levels, even $40 in what would be a welcomed buy trend continuation pattern.<\/p>\n\n\n\n

Nonetheless, ambitious as this may be, bulls must anchor their supports for a solid upthrust. Presently, UNI prices are trending lower.<\/p>\n\n\n\n

The good news is that the contraction is with relatively low trading volumes viz-a-viz gains of late May 2021.<\/p>\n\n\n\n

At the same time, recent UNI\/USDT price losses are within gains of May 24 to 26. From an Effort-versus-Results perspective, this points to bulls, a reason that could partly explain bulls’ confidence.<\/p>\n\n\n\n

Uniswap (UNI) Market Movers<\/h2>\n\n\n\n

In the burgeoning DeFi, Uniswap has carved out a significant market share. Mostly, traders use the protocol because it is the most liquid\u2014unlike Ethereum.<\/p>\n\n\n\n

Uniswap, since launching in late 2018, has evolved to be the largest DEX in the world.<\/p>\n\n\n\n

Besides, the protocol is continuously evolving, introducing the latest version, which presents unique features, unlike competitors.<\/p>\n\n\n\n

\n

Uniswap's (v2 + v3) past year in numbers:

Realized:
\u2022 Trading volume: $273B
\u2022 LP revenue: $812M

Estimates:
\u2022 UNI revenue (as 16% of LP revenue): $130M
\u2022 UNI costs & expenses (grants): $10M
\u2022 UNI earnings: $120M
\u2022 UNI fd. market cap: $12.3B
\u2022 UNI P\/E: 102.50x pic.twitter.com\/bPMVMZzi35<\/a><\/p>— Token Terminal (@tokenterminal) June 13, 2021<\/a><\/blockquote>