The post Uniswap Price On Its Way Down Post Breakout? appeared on BitcoinEthereumNews.com.

Uniswap Protocol (UNI) saw its swap volume surpass the domestic GDP of Canada, a development that could impact UNI price. The question is, where is it headed now? UNI Price Action and Prediction The price point of UNI exceeded its essential 200 EMA resistance boundary on the 4-hour timeframe, indicating upcoming bullish trends. UNI price exceeded $5.77 to achieve a higher high before settling at $5.90. A strong momentum prevailed as the RSI saw a bullish crossover that rose above the 60 benchmark. Next potential resistance for the price stood at $6.70 while $5.77 marked the primary support level followed by $5.60. UNI 4-hour chart | Source: TradingView The coin had a strong chance to move toward $6.70 as long as it stayed above its 200 Moving Exponential Average and continued making higher low points. A lasting rise above this green resistance at $6.70 level created new possibilities for the asset to reach $8.00. While it was trading lower, near $5.4, a bullish price setup could become nullified if $5.77-$5.60 area support failed to hold thus pushing the price back toward April’s low range of $5.20. After reaching its peak the RSI saw a slight divergence indicating temporary market overbought conditions. A confirmation bounce above the 200 EMA could indicate traders to enter long positions. This bull trend in UNI remained strong yet required price to remain above $5.77 to sustain its uptrend condition. Uniswap Swap Volume at News Highs For other key metrics, Uniswap Protocol exchange achieved $2.94 Trillion in total trading volume that exceeding the Gross Domestic Product of Canada. Uniswap saw consistent growth between 2020 and 2021 before it showed increased speed in 2022, followed by another massive increase from the middle of 2023 onwards. These growth patterns of exponential nature signified increasing DeFi growth globally alongside…

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Filed under: News - @ April 28, 2025 3:31 am