Uniswap token escapes consolidation zone with a chance to ride up to $8.0

    • Uniswap’s token has gained by 12% in 24 hours

    • The protocol’s liquidity suppliers confronted a phishing assault on Monday

    • Uniswap has now escaped the consolidation zone and eyes increased ranges

    Uniswap’s UNI/USD has risen by 12 % within the final 24 hours, in accordance to CoinMarketCap. The positive factors come amid slight recoveries in crypto after inflation knowledge stoked markets. We imagine Uniswap has a good distance to recuperate. However, the most recent positive factors might be sustained within the subsequent few days.

    The positive factors in Uniswap come amid a suspected phishing assault on its v3 protocol liquidity suppliers. The assault, which occurred on Monday, led to the lack of round $4.7 million ETH tokens. ERC20 tokens and NFTs have been additionally stolen within the refined assault. Uniswap crashed by virtually 10% following the assault. Uniswap’s growth group clarified that the phishing assault was not brought on by an error within the protocol.

    Uniswap begins an uptrend after escaping a consolidation zone

    Source – TradingView

    Uniswap’s token bottomed at $4.7. The worth crashed beneath it briefly however recovered. The newest positive factors push the worth above the underside stage, elevating a bullish case for the token. MACD indicators are bullish too. The MACD line crossed above the shifting common, indicating a bullish development. The 14-day and 21-day shifting averages have joined a assist for the Uniswap token. We imagine the cryptocurrency presents alternatives within the quick and long run.

    In the quick time period, the Uniswap token has a longtime resistance at $8.0. Investors ought to think about holding up to the extent. However, the token might face a minor correction at $6.1. Investors should buy on the 14-day or $21-day shifting averages. In the long-term, traders ought to maintain Uniswap to lock worth on the backside worth.


    Uniswap’s token is beginning a bullish rally after overcoming a consolidation stage. The cryptocurrency will proceed rising however might face resistance at $8.0. Investors can maintain within the quick time period to the resistance or long-term.

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