🦄 Uniswap Price Jumps 4% as It Rebounds from Last Week’s Dip

On March 30, Uniswap ($UNI) price witnessed a jump on its daily chart, soaring by over 4% on a daily chart, sparking euphoria in its community.

The upward momentum in Uniswap price was seen after a bullish sentiment in the overall crypto market.

According to CoinMarketCap, Uniswap (UNI) price is currently revolving at around $3.48 with a market capitalization of $2.2 billion and daily trading volume at around $126.84 million.

🔸 Why Is Uniswap (UNI) Price Soaring?

Over the previous week, Uniswap witnessed a small drop of approximately 1%, but it recovered on Monday when most cryptocurrencies gave a sign of rebound.

According to experts, the cryptocurrency is experiencing this rebound after a technical recovery. UNI bounced from recent support levels around $3.35. Some indicators are giving neutral-to-bullish signals in the short term, with rising volume helping the upward momentum.

However, there is an uncertainty around its long-term upward trajectory as the price is likely to face major resistance around $3.65 to $3.70.

One of the major factors in the Uniswap price surge is its strong performance in decentralized finance (DeFi). Recent developments like Uniswap v4 developments, along with its integration with MetaMask, have helped the protocol to expand its ecosystem.

However, this price surge was expected after a dip last week. If UNI holds above $3.46 and breaks $3.57 with strong volume, it could go for higher levels around $3.70. On the other hand, if it drops below $3.35, then it may bring it back toward the $3.20 support level.

Last week, Uniswap’s native token UNI witnessed a drop. The price dropped from around $3.61 on March 24 to as low as $3.29 by March 29. This is around 7% to 9% over the period.

#UNI | #Uniswap
{spot}(UNIUSDT)