Uniswap remains a hold, but a price decline is possible after hitting a minor resistance of

  • Robinhood’s brokerage trading platform was updated with Uniswap native token UNI.

  • UNI has been bullish over the past month, even though most cryptos have crashed

  • Although the cryptocurrency has faced some resistance, it could continue to climb to $8.38.

Uniswap token UNI/USD is strong recently. UNI has been rising since the second half June, defying bearish crypto sentiment. The platform surpassed Ethereum in fees paid during the last weeks of June. This shows that there is a growing demand to use DeFi on the platform.

Robinhood also announced support for the Uniswap token on July 14. Since then, the cryptocurrency has surged in value. The 17th-ranked cryptocurrency in terms of market capitalization has set a low price of $4.15. Investors should consider adding positions to UNI on a slight fall as the reference bottom has now been set.

UNI rejected at $7.45. But investors could push it up to $8.38

Source -TradingView

Technically, the MACD indicator for Uniswap token is extremely bullish. UNI prices have been moving in a pattern of higher highs, and lower lows for a month. The price is currently at $7.45, but could fall lower.

We remain positive on UNI. The price of UNI is currently at $8.38. The target price has yet to be reached. UNI will see another bullish push to $7.45 thanks to the increased crypto sentiment. The token should be held by investors. Consider buying the token after a possible retracement for new buyers. Support is available for as short as $5.6

Conclusion thoughts of Uniswap

Uniswap’s token UNI is experiencing minor resistance. We are optimistic that the cryptocurrency will overcome the $8.38 resistance. To make higher profits, investors should keep the token. We recommend buying the token on a retracement to increase profits for new investors.