Uniswap Posts Sharp Losses Below $7 Despite Approval to Deploy on BNB Chain
Uniswap remains bearish at below $7 despite the governance vote to deploy the DEX on the BNB Smart Chain (BSC).
Crypto Economy section, we will publish every week the technical price analysis of Bitcoin [BTC], Ethereum [ETH], Ripple [XRP] and other cryptocurrencies.
These analyzes are prepared by our specialists based on the evolution of the markets.
A technical price analysis provides excellent and useful information that can help us know when is the best time to make movements in our investments or when it is not a good time to operate.
But we must not only take this information into account, the monitoring of the prices of a cryptocurrency must be accompanied by an investigation into the latest news related to it.
So we can get an idea about whether the price increase or decrease has occurred due to an event related to the project or if it could be a market manipulation, etc.
Uniswap remains bearish at below $7 despite the governance vote to deploy the DEX on the BNB Smart Chain (BSC).
The Bitcoin rally appears to be over after losses below the bull flag. BTC may likely retrace and retest $20k in the near term.
Ethereum remains within a bullish formation. Even so, ETH must break above $1,700 with rising volumes for trend continuation.
Solana prices are up 195% from December lows but are currently in a bull flag. A close above $27 may see SOL break higher.
Bitcoin is bullish at spot rates but the uptrend will be validated if there are high volume breakouts above $24k.
Ethereum is bullish but has been consolidating in recent days. The immediate resistance line remains at $1.7k.
BNB prices are tracking higher with the coin adding 45% in six weeks. Meanwhile, Binance has began vetting projects.
Bitcoin prices are in range and below the $23.3k resistance line. Nonetheless, analysts remain bullish, expecting more gains toward $25k.
Ethereum prices are relatively down, pulling back from the $1.7k resistance. Still, there could be more upsides in the near term.
Uniswap is bullish, inside Q3 2022 trade range. At this pace, UNI prices may retest $9.6 as the tide changes to favor buyers.
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