{"id":142093,"date":"2023-09-01T20:16:35","date_gmt":"2023-09-01T14:46:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=142093"},"modified":"2023-09-01T20:16:35","modified_gmt":"2023-09-01T14:46:35","slug":"uniswap-uni-traders-looking-for-gains-can-target-this-price-point-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/uniswap-uni-traders-looking-for-gains-can-target-this-price-point-crypto-news\/","title":{"rendered":"Uniswap [UNI] traders looking for gains can target this price point &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">The extended drop below $5 saw UNI shed over 20% in value.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">The Open Interest rates remained low, with UNI below $5.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Since 18 August, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/UNI\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Uniswap [UNI]<\/span><\/a><span style=\"font-weight: 400\"> has failed to close above $5 on the daily chart, giving the leeway for further depreciation. However, the drop hasn\u2019t exceeded $4.5 as bulls turned it to immediate support.\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/uniswap-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">UNI Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">In the meantime, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> saw a price rejection at $26.8k, making it a new resistance level. If BTC fails to clear the new resistance in the next few days, UNI\u2019s struggles below $5 could be extended.\u00a0<\/span><\/p>\n<h4>Can bulls reclaim $4.94?<\/h4>\n<div id=\"attachment_338186\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNIUSDT_2023-08-24_16-16-23.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-338186\" class=\"size-full wp-image-338186\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNIUSDT_2023-08-24_16-16-23.png\" alt=\"\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-338186\" class=\"wp-caption-text\">Source: UNI\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The Relative Strength Index (RSI) was negative, denoting elevated selling pressure. In addition, the Chaikin Money Flow (CMF) attempted a northbound movement but was below the threshold, indicating little capital inflows.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The above readings illustrated sellers\u2019 conviction in the market. The drop from mid-August ($6.3) to below $5 has depreciated UNI by over 20%. But sellers have had difficulty cracking the $4.5 immediate support while bulls could not cross $4.94, the last hurdle to reclaim $5.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thus, the bearish market structure makes the asset ripe for shorting upon a retest of $4.94, with a take-profit target of $4.5.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">But a daily candlestick close above $5.00 will invalidate the bearish bias. Such a move will set UNI to aim at $5.425 or $5.80.\u00a0<\/span><\/p>\n<h4>Open Interest rates dipped<\/h4>\n<div id=\"attachment_338187\" style=\"width: 1788px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-338187\" class=\"size-full wp-image-338187\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1778\" height=\"1006\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations.png 1778w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations-1024x579.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations-1536x869.png 1536w\" data-lazy-sizes=\"(max-width: 1778px) 100vw, 1778px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-338187\" class=\"size-full wp-image-338187\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/UNI-liquidations.png\" alt=\"\" width=\"1778\" height=\"1006\" \/><\/a><\/p>\n<p id=\"caption-attachment-338187\" class=\"wp-caption-text\">Source: Coinalyze<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The massive interest and demand for UNI in the derivatives sector in early August has steadily disappeared. As demonstrated by the dropping of Open Interest (OI) rates, the metric has dipped from around $80 million in early August to &lt;$50 million in the past few days.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-uni-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 UNIs worth today?<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">The liquidation data further confirmed the bearish inclination in the derivatives market. According to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/uniswap\/liquidations\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Coinalyze<\/span><\/a><span style=\"font-weight: 400\">, there were more short liquidations ($49k) than longs ($13k) in the last 24 hours before the time of writing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The liquidation data underscores a solid bearish bias, which could further make reclaiming $5 in the next few days difficult.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion The extended drop below $5 saw UNI shed over 20% in value. The Open Interest rates remained low, with UNI below $5.\u00a0 Since 18 August, Uniswap [UNI] has failed to close above $5 on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":142094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-142093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=142093"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142093\/revisions"}],"predecessor-version":[{"id":146746,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142093\/revisions\/146746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/142094"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=142093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=142093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=142093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}