Uniswap [UNI] made headlines as it stood to be the highest revenue-generating protocol as of 6 November. Furthermore, things also looked quite optimistic for the blockchain owing to a few other positive developments. .@Uniswap is the highest revenue-generating protocol in crypto. However, @Curve, an Automated Market Maker (AMM) focused on 'like-like' pools has a higher […]
Furthermore, data from analytical platform Santiment revealed that UNI’s Market Value to Realized Value ratio was up. This indicated a price surge in the coming days. Not only this, but UNI’s daily active addresses also registered an uptick on 4 November.’s network growth also followed the same route and spiked lately. However, at the time of writing, the net for both marked a slight decline.told a different story.
Furthermore, UNI’s Relative Strength Index was in an overbought position. This increases the possibility of a price plummet in the days to come.’s daily chart showed an ambiguous picture as a few market indicators suggested a price hike while the others indicated otherwise. The Exponential Moving Averages Ribbon displayed that the buyers had an advantage in the market as the 20 day EMA was resting well above the 55 day EMA.
Interestingly, UNI’s Money Flow Index and Chaikin Money Flow both registered downticks. These indicators were heading towards the neutral positions, a strong bearish signal. Therefore, considering all the aforementioned data, it is only time to answer which way UNI will head in the coming days.Subscribe to get it daily in your inbox.
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