Uniswap (UNI) recently demonstrated significant activity growth against the backdrop of price and trading volume increases. Current trends confirm the potential for further growth.
Increase in Whale Activity
Recent data highlights a 694% increase in large transactions in the Uniswap network, indicating heightened interest from major investors. This is often a sign of impending price movements.
Rise in Active Users
Amid rising prices, UNI's active addresses have increased by 23% in the past 24 hours, reflecting heightened user interest and engagement.
Technical Analysis and Prospects
The long/short ratio stands at 57% in favor of long positions, reinforcing positive investor expectations. Breaking the $17 resistance could pave the way for further rally.
While UNI's metrics show short-term potential, broader market dynamics and investor sentiment will play key roles in sustaining bullish momentum. Continuing positive trends could allow the altcoin to surpass the $17 resistance.
