As we enter 2023, some tokens in the crypto money market have increased, albeit on a small scale. In addition to these rises, UNI, one of the leading altcoins, was among those who did not give what was expected.
Uniswap (UNI) is up 7.4 percent in the last 24 hours, according to CoinGecko data.
UNI Price Analysis
Uniswap is a decentralized exchange system. It is one of the decentralized exchange structures known among DeFi projects. Uniswap is basically a protocol that allows the exchange of ERC-20 tokens via smart contracts without a central or administrator.
Looking at the daily chart of UNI, we can see that it has regressed strongly from the $1600 region to $5. From here on, the price continued to fluctuate in UNI. The next target in UNI could be the $6 zone. Apart from that, in a bearish scenario, the price can push us down to $5.
Uniswap price analysis shows that the trend is still generally bullish for today. However, it can be observed that the price has been trading in the lower price range in recent days, which negatively affects the value of the coin. The recovery reported today is nominal and the 24-hour chart shows that the price is still below correction. Therefore, time will tell if UNI can break above the $6.06 level in the coming hours.