Uniswap's 80% July gains are in jeopardy as UNI price paints a classic bearish pattern
Uniswap price is at risk of falling 50% from its current levels due to a bearish reversal pattern.< /p>
Altcoin Watch
Uniswap (UNI) looks set to post its best monthly performance in over a year, as it rebounded around 80% in July, but signs of a prolonged short-term pullback are emerging.
Uniswap price nearly doubled in JulyUNI's price is having one of its best months ever, hitting nearly $9 on July 30 from nearly $5 at the start of the month, the best returns since prices rose 250% from January 2021.
UNI/USD monthly price chart. Source: TradingViewUniswap’s gains mostly emerged due to similar upward moves in the broader crypto market. But they turned out to be relatively massive due to the lingering euphoria surrounding "the merger".
Notably, the potential transition of the Ethereum blockchain from proof-of-work to proof-of-stake in September sparked buying hysteria among associated tokens.
Movement $ETH drags the whole ecosystem with it.
Best Movers:• Challenge: $LDO $UNI $BIT $AAVE•Layer 2: $OP $MATIC
And of course because it's crypto
Uniswap price is at risk of falling 50% from its current levels due to a bearish reversal pattern.< /p>
Altcoin Watch
Uniswap (UNI) looks set to post its best monthly performance in over a year, as it rebounded around 80% in July, but signs of a prolonged short-term pullback are emerging.
Uniswap price nearly doubled in JulyUNI's price is having one of its best months ever, hitting nearly $9 on July 30 from nearly $5 at the start of the month, the best returns since prices rose 250% from January 2021.
UNI/USD monthly price chart. Source: TradingViewUniswap’s gains mostly emerged due to similar upward moves in the broader crypto market. But they turned out to be relatively massive due to the lingering euphoria surrounding "the merger".
Notably, the potential transition of the Ethereum blockchain from proof-of-work to proof-of-stake in September sparked buying hysteria among associated tokens.
Movement $ETH drags the whole ecosystem with it.
Best Movers:• Challenge: $LDO $UNI $BIT $AAVE•Layer 2: $OP $MATIC
And of course because it's crypto
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