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Uniswap (UNI) jumped in the Department of Social Dominance, peaking on 25 December at 20.46 per cent. Uniswap is believed to win the popular vote because it overthrows other cryptocurrencies in the social arena.
Here’s a quick look at how it is performing:
- UNI price drops 1.26%
- Uniswap critical support spotted at $5.09
- UNI dominates the crypto space in terms of social dominance
On the other hand, the United Kingdom still appears to be bearish, which may persist for some time. According to data by CoinMarketCap, UNI price was trading at $5.07, down 5.2% in the last seven days.
Source: CoinMarketCap
The may even slip lower if the part does not maintain its current level of support.
The maced histogram dropped below zero, indicating increased pressure from vendors.
UNI Technical metrics: Aggressiveness of the seller.
Uniswap's technical metrics show that sellers are more aggressive than buyers over the next few days.
Uniswap, in the day-to-day trading session, alluded to the formation of a downward triangle model. It also shows a long-term downtrend, taking into account the fact that the price fluctuates between indices 100 and 200.
Chart: TradingView
The top band of Bollinger is $5.25 and the bottom band of Bollinger is currently $5.32, suggesting a downward trend for Uniswap. This trend is expected to continue over a long period of time.
UNI total market cap at $3.8 billion on the daily chart | Chart: TradingView.comOn the positive side, the price of Uniswap may rise once it passes the $5.4 level with success. However, if the drums of coins beyond the key support level, it might worsen the losses.
Now, to reverse the negative feeling, bulls should keep the level of support and push prices up.
UNI Trading Search Volume Up.
In terms of social dominance and volume, UNI stands at 6,902 peaks, which means that the volume of research has increased among merchants.
Merchants now view the peak of social domination as an opportunity to take advantage of unity. In fact, there was an increase in binary funding of 0.009%. However, despite the soaring interest of investors, uniswap must further increase its value.
In November, Uniswap rolled out an NFT aggregator as the market was bullish then. However, the wind shifted, and the uni nfts did not seem to tickle the fantasy of many investors as nft transactions fell to just $7,562.
If unity dominates social volume and domination, it may not last long, as social volume and price appear to plunge deeper in the days ahead.
