The price of Uniswap (UNI) has experienced a 40% rebound after reaching a low of $3.7 in June. This increase in price has attracted the attention of whale investors. The recent announcement of the “V4 Upgrade” by Uniswap, which will lower transaction costs and introduce new features, has further piqued the interest of institutional investors. Developer activity on the Uniswap network has also increased significantly this month, reinforcing investor confidence in the network’s long-term viability. Historical data suggests that UNI price trends are closely correlated with development activity, indicating that UNI holders can expect more gains in the future.
The new features introduced in the “V4” upgrade have attracted the attention of whales, as evidenced by an increase in whale transactions. Large transactions involving UNI tokens have also seen a significant surge. This suggests that institutional investors are growing confident in the project’s viability, and retail investors may follow suit. The combination of rising developer activity and bullish sentiment among UNI whale holders could lead to further price increases.
Bulls are aiming for a price target of $6, but they must first break through the resistance at $5.50. If successful, a rally towards the $6 target is possible. However, if UNI slips below $4.5, the bears could take control. There is significant support at the $4 level, but if that support fails, UNI could retrace further.
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