UNI Price Analysis October 2022

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UNI is a token of the platform Uniswap. Its current price is around $6.57 by the time of writing, with a low of $3.37, and it has a market cap of 5 billion dollars.

UNI Coin Market Analysis 

UNI has a total supply of 1,000,000,000 coins worth around $6.57 with a market volume of 168 million dollars, whereas the market capitalization is 5 billion dollars at writing. Therefore, it would seem that accumulating Uniswap tokens in June would have been an excellent decision for most buyers in the crypto markets. 

After Bitcoin pulled the markets down, UNI has recovered by over 90% from its low in June. Uniswap v3 has had a decrease in trading volume. However, it is still the DEX with the most volume over the past 30 days. Reports indicate that the aggregate cryptocurrency market decreased by around 4% over the last 30 days. 

This dip in valuation was likely due to a general decline in interest in cryptocurrency. However, it is also worth noting that trading volume on decentralized exchanges decreased by around 10%. According to data, all cryptocurrency exchanges showed a 23% decline in trading volume from August to September. This equates to $51 billion worth of transactions.

What is UNI?

UNI is the coin of the Uniswap platform, which is around $6.57 by the time of writing, with a low of $3.37. It reached $28.43, and its current ranking is #17, according to CoinMarketCap, with a market cap of 5 billion dollars.

UNI Price Prediction

On the 2H timeframe, the price action of $UNI/USDT has formed a double top chart pattern. The price is going downwards. If it breaks the neckline of the double top, then it can go downwards.

On-demand analysis on $UNI or any other coin can join our Telegram channel anytime.

Uni Price Chart October 2022
UNI Price Chart October 2022

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh
Pratyaksh

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