UNI Token Defies Bearish Sentiment with Impressive Jump
A few outliers continue to break through the bearish attitudes looming over the crypto horizon of late. UNI is one of those tokens, with an impressive jump of over 12% in the past 24 hours, investors have flocked to this altcoin in search of a bullish continuation.
Uniswap’s Deployment on Arbitrum Boosts Swap Volume
The first quarter of this year brings a lot to the table for investors. Just this month, Uniswap reported that its deployment on Arbitrum led to the swap volume on the latter to jump by a significant amount. The news is also coupled with exciting new info on Uniswap’s latest agenda: the launch of Uniswap v4.
Arbitrum swap volume has grown more than 4x since this time last year
Bearish Sentiment May Affect UNI in Coming Weeks
The lead-up to the month of March has certainly brought a level of hype around the broader market, but thus hype has since died down and was replaced by profit-taking attitudes. UNI will inevitably experience this bearishness taking hold in the coming weeks as the market potentially dips.
Strong Support Levels for UNI
If this happens, investors and traders have strong support on the 50% and 38.20% price levels. These supports will slow down any bearish advance, stabilizing UNI’s price at the $7.3 and $7 range.
Hot Take: UNI Shows Resilience Despite Market Trends
Despite the overall bearish sentiment in the crypto market, UNI has managed to defy the odds with an impressive jump in value. With the recent deployment on Arbitrum and the upcoming launch of Uniswap v4, there is a positive outlook for the token. However, it is important to be cautious as the market may experience a dip in the coming weeks. Nonetheless, strong support levels at $7.3 and $7 provide some stability for UNI. Overall, UNI’s resilience is a promising sign for investors.
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