peacefuljustin

Uniswap (UNI) $20 Support Forming Road to $27?

Long
COINBASE:UNIUSD   UNI/USD
What a magnificent performance we have been witnessing from Uniswap since the begging of this year. Cheers to everybody that has held to $20! Every hodler, trader, and investor should be excited and thankful for the explosive growth that we have been seeing with Uniswap and within the Decentralized Finance (DeFi) realm overall. Almost every week we have been seeing the DeFi sector increasing Total Value Locked ( TVL ) by the billions.

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 support area . 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 bullish 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!
Comment: Hey Everybody! Quick update:

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!
Comment: We've held our low support area well. We're still trading within support and resistance.

Comments

Yes after all other altcoins have also tripled..Timing is the key break outs are easly read.
Thanks for easy to read chart.To the moon!!
+1 Reply
LA_Designer pluckyHunter3666
@pluckyHunter3666, UNI's path doesn't rely on other altcoins. It relies on Ethereum. Right now Etherium is in price discovery mode and so is UNI.
+1 Reply
peacefuljustin LA_Designer
@LA_Designer, I also agree. Uniswap is more correlated with Ethereum's prices movements. Ethereum and Uniswap are like PB&J.
Reply
peacefuljustin pluckyHunter3666
@pluckyHunter3666, Thank you for the read and feedback! Timing is everything in these markets. Uniswap will do very well this year.
Reply
Just wait til' V3 comes out...
+1 Reply
peacefuljustin LA_Designer
@LA_Designer, Oh yes! That's going to be a crucial milestone. Hopefully we can see V3 around Q2 of this year.
+1 Reply
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