The price of Uniswap (1) is down 25% from last month. On November 13, according to on-chain analytics, there were the most withdrawals from all exchanges this year. Until $4.60 is breached, the bullish premise will not be proven. The Uniswap pricing displays encouraging signs as the third trading week ends on Friday. There may be one more exit-liquidity pump for the decentralized dex token. To determine UNI's likely future move, key thresholds have been established
The Uniswap Inu pricing could fluctuate
If you are searching for possibilities in the cryptocurrency market, putting Uniswap price on your radar is worthwhile. During the period of June 14 to August 12, Uni swap generated a 200% rise. The Ethereum-based swap coin fell 50% after the pump and has subsequently traded in a range throughout the decline. Within the recently set range, the price of UNI has eschewed slightly upward movement. The upward price movement may serve as the impetus for a much stronger rally toward $10 and maybe the $12.50 liquidity zone.
The current auction price for uniswap is $5.84. The assumption that UNI might see a pump is strengthened by Glasnode's Exchange (2) Withdrawals, which have increased at the highest rate among all exchanges this year. The indication shows that on November 13, 1,656,000 transactions were made. The indicator last showed similar comparable parameters in September 2021, only days before UNI rallied 20% to $25 and traded at $20. Uniswap and other decentralized tokens like it might be a transitory play for an increase in purchasing interest and liquidity in the coming weeks as the FTX tragedy highlights centralized exchanges' shortcomings.
Exchange Withdrawals Indicator for Glassnode
If the bears price in the liquidity at or below $4.60, the bullish prognosis may be called into question. A break of the lows might spark another selling frenzy with the $3 liquify levels from 2020 as the goal. The price of Uniswap would drop by 45% if the bears were successful.