spiked by 7.2% in the last 24 hours of trading, as the crypto-market began to witness upside volatility associated with
Trading volumes also hiked by 15%, with more than $181 million in UNI exchanging hands in the 24-hour period, according toThe uptick came as a relief to token holders, who had watched their UNI portfolio plummet by 30% over the past month. And, if forecasts by analysts are to be believed, they might be in for more gains in the short term.spotted a buy signal for the token through the TD Sequential indicator.
Owing to the halving, investors have started to put money back in the crypto-market. UNI, which was launched after last halving, gained in strength and eventually exploded to its all-time high the following year.Meanwhile, the price pump galvanized UNI’s Futures market as well, with the Open Interest rising by 6.4% in 24 hours, according to AMBCrypto’s analysis of Coinglass’ data.
Typically, a rise in price followed by a rise in OI signals new money coming into the market and is a confirmation of the uptrend.UNI’s market sentiment was leaning towards greed at press time, according to AMBCrypto’s analysis of Hyblock Capital’s data. This could add to the buying pressure in the days ahead, and support UNI’s march to $10.from the U.S. Securities and Exchange Commission earlier in the month.
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