Uniswap, which has risen by 3.8 percent in the last 24 hours, according to CoinGecko data, has increased by 8.8 percent in the past week. So what is the reason for this rise in Uniswap? Why is Uniswap (UNI) rising?
Let’s find the answer to this question together in this article, why Uniswap is on the rise despite the stagnant and sluggish market.
Why is Uniswap (UNI) Rising?
Uniswap (UNI), the native token of Uniswap, an exchange where Ethereum and ERC-20 network tokens can be automatically traded, is on the rise despite the bad conditions in the market. With this rise, Uniswap (UNI) became one of the most rising coins of the day, according to CoinGecko data.
When we look at the chart of Uniswap, we can say that the $ 6.5 level acts as a strong support. On the other hand, we can say that the closest resistance waiting for UNI is the 8 dollar band. When we look at the analysis of the 50 and 200-day averages on the UNI chart, both point to a downtrend. Based on this, the MACD indicator was also showing a decrease. On the other hand, UNI started to rise by reacting from $ 6 levels.
In addition to the technical part, we can show the Ethereum Devcon, which took place in the days we left behind, as one of the factors in the rise of UNI. First introduced at the 2017 Ethereum Devcon, UNI was launched in 2018. From this point of view, it can be said that Ethereum Devcons are important for UNI.
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