Uniswap (UNI) Gains Momentum After CFTC Settlement, Eyeing Potential Breakout
Uniswap’s native token, UNI , has seen a significant price surge following its recent settlement with the U.S. Commodity Futures Trading Commission (CFTC). The decentralized exchange (DEX) agreed to pay a $175,000 fine and cease activities related to commodity contracts, effectively closing the case. This settlement has boosted investor confidence , with UNI rising 7.5% to trade around $6.40. Over the past week, the token has surged by 11%, and its trading volume has increased by 150%, signaling renewed interest​( The Coin Republic )​( MarketBeat ).
Technical Analysis and Market Outlook
UNI is currently hovering near the $6 mark, with strong support forming around $5.20. Analysts are optimistic about a continued uptrend, with a potential breakout toward $7 if buying pressure persists. The Relative Strength Index (RSI) remains below 50, indicating a slight bearish sentiment, but increased demand could shift the momentum toward a bullish reversal​( The Coin Republic )​( Investing.com India ).
Read More: https://onthenode.com/cryptocurrency/uniswap-uni-gains-momentum-after-cftc-settlement-eyeing-potential-breakout
Uniswap’s native token, UNI , has seen a significant price surge following its recent settlement with the U.S. Commodity Futures Trading Commission (CFTC). The decentralized exchange (DEX) agreed to pay a $175,000 fine and cease activities related to commodity contracts, effectively closing the case. This settlement has boosted investor confidence , with UNI rising 7.5% to trade around $6.40. Over the past week, the token has surged by 11%, and its trading volume has increased by 150%, signaling renewed interest​( The Coin Republic )​( MarketBeat ).
Technical Analysis and Market Outlook
UNI is currently hovering near the $6 mark, with strong support forming around $5.20. Analysts are optimistic about a continued uptrend, with a potential breakout toward $7 if buying pressure persists. The Relative Strength Index (RSI) remains below 50, indicating a slight bearish sentiment, but increased demand could shift the momentum toward a bullish reversal​( The Coin Republic )​( Investing.com India ).
Read More: https://onthenode.com/cryptocurrency/uniswap-uni-gains-momentum-after-cftc-settlement-eyeing-potential-breakout
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