14.04.2024

Uniswap rallies by 12% after raising $165 million

UNI is the most effective performer amongst the leading 20 cryptocurrencies by market cap today and could rally higher soon.

UNI, the native coin of the Uniswap decentralised exchange (DEX), is the best performer amongst the leading 20 cryptocurrencies by market cap today.

The coin has included greater than 12% to its worth in the last 24 hours and is currently trading at around $6.350 per coin.

The rally comes after Uniswap announced that it had raised $165 million in a Series B financing round led by Polychain Capital.

The Uniswap group said it would certainly use the funds to purchase its web application to boost its simplicity and also safety and security.

The rally likewise coincides with the favorable performance of the broader cryptocurrency market.

The complete crypto market cap stands over $940 billion, up by almost 4% in the last 24 hrs. Bitcoin, the world s leading cryptocurrency, is up by 3.5% so far today and is trading at around $19,700 per coin at press time.

Ether is likewise up by more than 3% in the last 24 hours as well as is currently trading above $1,300 for the very first time this week.

Secret levels to view

The UNI/USD 4-hour chart is bearish despite Uniswap rallying by more than 12% in the last 24 hrs. The technical signs reveal that Uniswap is recouping from its recent inadequate performance.

UNI/USD Chart

The MACD line remains listed below the neutral area yet has actually been climbing over the last few hrs, showing that the bulls are starting to acquire control.

The 14-day relative strength index of 57 programs that UNI is no more in the oversold area. If the favorable momentum is continual, UNI might pass the very first significant resistance level at $7.216 before the end of the day.

In the event of an extended bullish run over the weekend, UNI might touch the $8.019 resistance degree for the very first time since August.

Where to buy now

OKX

OKX is a leading cryptocurrency exchange which supplies over 140 cryptocurrencies to invest in. OKX takes consumer safety and security extremely seriously, they save mostly all of their clients’ funds in freezer, and also the exchange is yet to be hacked. The exchange uses really low fees and customers can even utilize their crypto as security for lendings on the platform.

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