Uniswap has reached a significant milestone with its swap volume hitting $2.94 trillion. Uniswap Labs announced this milestone in a post on X. This whopping number is notable, being larger than Canada’s GDP. Uniswap, which was launched in 2018, has played a vital role in shaping the DeFi sector, enabling automated permission-free crypto trading. This considerable achievement shows the token’s rapid growth and increasing popularity of decentralized platforms in the global market. As Uniswap’s trading activity now competes with major economies, investors are closely watching the UNI price action. Let us also dive into a detailed Uniswap price analysis and explore possible scenarios for UNI in the coming days.
Uniswap Protocol has now processed $2.94T in swap volume
— Uniswap Labs 🦄 (@Uniswap) April 23, 2025
That's more than the GDP of Canada 🤯 pic.twitter.com/TE32LSeO2U
Uniswap Price Analysis of the Last 24 Hours
Uniswap commenced trading yesterday at $5.82. Initial action led the UNI price down to $5.79. However, for the first few hours, rapid action followed on the MACD, as the EMAs converged and diverged, forming consecutive golden crosses and death crosses. This led to significant price volatility. However, a general uptrend was observed as UNI climbed rapidly to $5.97 initially, but soon faced a correction, dropping to $5.87. An uptrend ensued immediately, taking UNI to $6.025 at 5:00 UTC. The RSI indicated overbought levels at this point. A definitive death cross formed as Uniswap faced a reversal. Although the ensuing downtrend was resisted by UNI, the price dropped to $5.89.
Chart 1: published on TradingView, April 24, 2025
At 8:00 UTC, the trend reversed and an extended uptrend commenced as the Uniswap price reached $6.072 by 13:15 UTC. The coin was overbought again, and an anticipated reversal followed. Uniswap quickly slumped to $5.872 by 15:00 UTC. With near-oversold levels observed on the RSI, a reversal followed. The UNI price climbed confidently, facing rejection at the $6.1 level. The buying pressure soon cooled off, and UNI retraced to $5.96. A consolidatory phase followed. Right after, UNI scaled the charts again, testing the $6.1 resistance around midnight, but failed to sustain the bullish pressure.
UNI Price Movements Today, April 24, 2025
Uniswap’s late debacle with the $6.1 resistance was unsuccessful, leading to a massive death cross forming very late yesterday. Naturally, a downturn ensued, as UNI reached $5.98 within the initial half an hour. The price seemed to stabilize for a while, potentially hinting at a trading range to avoid the downturn. But the bears dictated the price movements, and a further downtrend ensued. UNI slipped to $5.822 by 4:35 AM. It found some support with a golden cross around the same time, consolidating near the $5.82 support line. However, the resistance line kept falling, hitting lower highs consistently. The bearish triangle suggested that a support breach was on the cards, and the UNI price followed suit. Around 7:15, the $5.82 support was broken.
Uniswap Price Prediction: Is The UNI Bull Run Over?
After reaping massive benefits from the marketwide crypto bull run, UNI has entered a consolidatory phase as of now. In the last 24 hours, the price action has been mostly horizontal, in the narrow range between $6.1 and $5.82. As of now, bearish pressure dominates the movement, signaling further downs for Uniswap. However, if it is able to regain this range and stabilize, further upward movements will be easier. For now, UNI trades at $5.751 and may have formed a bottom to launch off of.
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