Uniswap Holds Steady After Month-Long Climb. Can It 100x?

Join Our Telegram channel to stay up to date on breaking news coverage

Uniswap’s UNI token has been holding steady around the $6 mark after rising about 30% in the past month.

It’s made a significant impact in the crypto space with its innovative approach to liquidity provision and support for decentralized finance. So what are its future prospects?

Uniswap ($UNI) Price Action

The Uniswap token ($UNI) price is experiencing dynamic fluctuations and volatility in the crypto market.

UNI was amongst other notable assets that witnessed a sharp price increase following the Judgment from Judge Analisa Torres, classifying Ripple as a non-security token.

On July 13, the asset pumped massively by 17.3% to above the $6 mark but observed a slight retracement to $5.6 on July 17. As of 05:31 EST, $UNI is trading at $5.86, representing a 24-hour price decrease of 5.28%.

According to CoinGecko data, the asset has a trading volume of $125 million, down by 39.94%. With a market cap of over $3 billion, the asset sits at the 24th position of top crypto assets.

Uniswap Technical Analysis Using Indicators & Chart Patterns

As Represented on the 4-hour chart, after the price drop to the $3.6 level, a steady price increase has seen the Uniswap coin ($UNI) reach a monthly high above the $6 mark. The trendline shows that there has been an obvious price increase in the last 29 days.

However, if the price of UNI could touch the trendline and retrace from the current trading range, we could see significant gains in the coming weeks.

Notably, the point below the trendline is a key support level denoting a bullish or bearish sentiment in the long run.

Indicators Show Potential Retracement Before Bullish Move

According to the 4-hour chart, the UNI/USDT pair has been trading above the 200-Day Simple Moving Average (SMA) indicator for the past 21 days, suggesting bullish sentiment.

As of 06:31 EST, the price is dropping toward the 50-Day Simple Moving Average (SMA) indicator, which might serve as a support level for a potential bullish reversal.

Furthermore, UNI’s Relative Strength Index (RSI) is at 50.40, suggesting a neutral condition in the market. It indicates that the asset’s price has not been significantly overbought or oversold, implying a relatively stable period with no clear bullish or bearish bias.

However, the asset’s Moving Average Convergence Divergence (MACD) is below the signal line, and the histogram bar is red. This indicates a bearish market sentiment.

Recent Development Within Uniswap Ecosystem

UniswapX Protocol

In a recent development, the Uniswap developers announced on July 16 through their blog site about the UniswapX protocol launch. According to the post, UniswapX was created to address manual price integration and ongoing maintenance as liquidity grows.

UniswapX offers swappers the convenience of utilizing the Uniswap interface while eliminating concerns about obtaining the optimal price and ensuring transparent recording and settlement of transactions directly on the blockchain.

Additionally, the Uniswap Smart Order Router guarantees the availability of all orders and compels fillers to compete not only with Uniswap v1, v2, and v3 but also with the upcoming v4 version.

This recent development is expected to potentially boost the price of Uniswap (UNI) coins as it enhances the overall user experience by providing a seamless interface, eliminating price concerns, and ensuring transparent transactions.

Including Uniswap v4 in the competition adds appeal, attracting more users and generating increased demand for UNI tokens.

Burn Kenny Presale Starting Tomorrow, July 20. “Most Irreverent Token!”

Burn Kenny ($KENNY) is a meme token inspired by South Park’s beloved character, Kenny McCormick, incorporating humor and a super deflationary mechanism. The token’s distinctive feature lies in its destiny for a rapid and fiery conclusion, mirroring the fate of the ill-fated Kenny.

This tokenomics element adds an entertaining and exclusive aspect to cryptocurrency investments, aiming to bring joy and amusement to its holders.

Burn Kenny Tokenomics

According to the Burn Kenny Team, they’re giving 40% of the total token supply to individuals ready to participate in their pre-sale. Burn Kenny describes this as “Betting on Kenny surviving an episode,” which is not likely, but “wouldn’t it be a hoot?”

An additional 30% of the tokens will be allocated to the Uniswap pool. These funds will be locked for 3 months, symbolizing Kenny’s destiny, which is consistently predetermined in each episode.

An impressive 30% of the token supply will be deliberately sent to the depths of token hell, but rest assured, our approach is less harsh than that of the South Park creators. The tokens will be gradually burned, commencing 24 hours after listing and continuing for the subsequent three days.

According to the team, this gradual reduction in token supply mirrors Kenny’s diminishing survival chances with each successive episode.

Notably, the total token supply is 6,666,666,666 Burn Kenny tokens.

How to Buy Burn Kenny

Burn Kenny token $KENNY can be purchased during the presale phase, where 40% of the total token supply is accessible.

Following the pre-sale, $KENNY will be launched on a Decentralized Exchange (DEX), enabling you to acquire tokens using your preferred cryptocurrency directly.

Here’s a straightforward process to guide you: