• UNI Token Price Analysis: A Long-Term Bullish Divergence Confirms The Price Floor, Indicating An Uptrend For UNI Token

  • A recent increase in Ethereum transaction fees has resulted in an increase in layer-2 volumes for UNISWAP, the most well-known and liquid decentralized cryptocurrency exchange. According to data from Nomics, a data analytics provider, UNISWAP V3 generated a volume of 80 million USD in Arbitrum compared to 14 million USD in Optimism.

    L2beat, a Layer-2 data aggregator, shows Arbitrum records representing 60% of the TVL-Total value locked across Layer-2 after its mainnet launch in September.

    Starting with a weekly chart overview, let’s look at the price charts of the UNIUSDT crypto pair.

    Weekly UNISWAP (UNI) Chart Analysis

    The UNIUSDT price chart saw its fair share of the overall crypto price slump, which was revealed as a result of a bearish divergence pattern.

    Following a 67 percent price drop, the UNIUSDT is gradually attempting a price recovery while trading in a sideways chart structure.

    An earlier rise in the RSI value above level-75 on August 9th suggests a bullish recovery and a build-up of price trajectory above the upper bounds of the bearish divergence resistance.

    Analysis of UNISWAP (UNI) Daily Charts

    On September 26 and October 2, the UNIUSDT broke above the upper trend line of an expanding and descending channel formed by opposing bearish and bullish divergence signals.

    The recent breakout of inside-bar resistance marks the beginning of higher price targets for the UNI token, which is on the verge of breaking through a second bearish divergence resistance level at $27.99.

    Analysis of the UNISWAP (UNI) 4HR Chart

    On 16 October 12:00, the UNISWAP UNI token signals a regular bearish divergence, sending the UNIUSDT into a [10%] correction wave.

    Following a bear-trap candlestick pattern, a long-term hidden bullish divergence on 18 October 12:00 confirms the price floor.

    As the daily RSI reading remains above level-25, the bullish divergence pattern formed with the RSI in the oversold area confirms a parabolic upward trajectory.

    Intraday UNISWAP (UNI) Levels

    Spot rate: 27.12Mid–Term Trend [H4]: Strong BullishVolatility: HighSupport: $24.85 and $22.30Resistance: $27.99

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