Uniswap is a Decentralized exchange and one of the first Automated Market Maker platform in the crypto ecosystem.
On November 2, 2018, Uniswap was publicly announced and deployed to the Ethereum mainnet. Ever since, 100s of tokens have been listed on Uniswap and billions of dollars worth of liquidity has been added to Uniswap pools. UNI is the governance token of UNI which was airdropped to all the early users of Uniswap. Due to the rise in the TVL of Uniswap, UNI price has been increasing.
You can add liquidity to Uniswap pools of the token pairs of your choice. You can also create your own liquidity pools on Uniswap.
Uniswap allows you to take complete ownership of your funds. You can connect your wallet (like Metamask) to Uniswap and swap ERC 20 tokens from any underlying pool.
0.3% fee is levied to all swaps. This fee is distributed amongst the liquidity providers.
When you provide liquidity in Uniswap pools, you are given LP tokens as the collateral to the share of your pool. You can use these LP tokens to farm across various platforms.
Let us review UNI price.
UNI/USD – Price Prediction
UNI is currently trading close to the resistance zone at $36.40. It has a good support at $31.69. If UNI can break the resistance at $36.40 and flip it to support, we could start seeing a move towards $39.25, $41.56 and $44.44. The resistance at $44.44 is an important one. If UNI can break this resistance and flip it to support, we could start seeing a much higher move towards $47.16, $51.34, $63.43 and $82.99. Long at support of $31.69 or breakout of resistance of $36.40.
Stop loss should be kept below $31.69. If this support breaks, it could lead to a drop towards $27.76 and $24.85.
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