📈 Price Action Signals Breakout: Uniswap (UNI) surged 14.33%, trading at $14.60. The price retested $17.12 resistance while holding strong at $12.60 support. The ADX at 39.72 signals a strong trend, though the MACD hints at slight bearish divergence. A breakout above $17.12 could push UNI toward the $20 mark.
👥 Growing Network Adoption: Active addresses surged 23.94%, and new addresses grew by 8.42% last week. This rising network activity reflects strong user confidence and increasing adoption of UNI’s utility in the DeFi space.
📊 Transactions & Exchange Reserves: Transaction count rose by 1.12%, reaching 6.7K, indicating steady activity. Meanwhile, exchange reserves fell by 0.64%, suggesting reduced selling pressure and a preference for long-term holding among investors.
💼 Market Sentiment & Open Interest: Open Interest climbed by 5.67% to $264.24 million, signaling increased speculative interest and confidence in UNI’s near-term growth potential. Historically, rising Open Interest often aligns with significant price movements.
🔥 What’s Next for UNI? With strong technicals, rising adoption, and reduced selling pressure, UNI seems well-positioned to break above $17.12. If successful, a rally toward $20 or higher becomes increasingly likely. 📈💎
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