It is very refreshing and reassuring to see Uniswap hugging the 2.618 Fibbonacci level of $20. Many believed we'd dump right after $20 but that doesn't seem to be that case so far. We've traded through $20 five times starting to form the basis of a $20 . As of right now we have a low support of $17.80 and a resistance of $21.56
The next destination for Uniswap will be the 3.618 Fibonacci level putting us at a new all time high target of $27.00 if this momentum continues. So far Uniswap just reached a milestone of 30 Billion dollars in Total Value Locked ( TVL ) and is nearing 4 Billion dollars worth of liquidity.
Uniswap is only about 2.8 Billion dollars away from Binance's 8.6 Billion dollar market capitalization. If we continue this momentum througt 2021 there's doubt in my mind that Uniswap will eventually be the biggest cryptocurrency exchange overtaking Binance. Uniswap is truly a game changer and as always I'm keeping a nice bag of UNI for the long term.
Much Peace and Love! Cheers!
We may experience some more selling pressure and short term price decline. We're about to bearishly diverge on the daily. I still have $17.80 as an important support level. Hopefully we can hold!