7. Uniswap (UNI)
It was developed as a program with the intention of performing two tasks: first, acting as a decentralised exchange (DEX) inside the Ethereum ecosystem, & second, acting as an automated liquidity protocol. The fact that Uniswap relies on Ethereum & its smart contacts to achieve the above ensures that no centralization is required for its operation.
The Uniswap price has dipped below a descending resistance line since hitting a high of $9.83 on Jul 28, 2022. The trend line also served as a rejection point, creating a lower UNI price on the process and subsequently fell below the $5.80 horizontal support area. However, it retook this wall of demand shortly thereafter, turning the previous breakout into just a deviation9.
During the second week of October, UNI returned to values around USD 5.80. This could generate strong buying pressure, which supports the possibility of a breakout.~ Advertisement ~ ~ Advertisement ~