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08/29 00:01

Uniswap sweeps short liquidations near $5 — What n

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Uniswap sweeps short liquidations near $5 — What next?Uniswap [$UNI] continued its strong bullish performance with another bullish structure break on the daily timeframe on Thursday, 27th August. On the day, the DeFi altcoin rallied by 6.89%, from $4.38 to $4.68. In the hours before press time, however, it faced a rejection after moving further north to $4.84. It was trading at $4.57, at the time of writing. Source: Coinalyze Coinalyze data revealed that Open Interest has cooled down slightly, with the funding rate close to neutral levels. Encouragingly, the Spot CVD climbed on the charts in recent days to underline strong spot demand behind the price gains. Whale accumulation and steady $UNI token burns have helped maintain the scarcity narrative. Hence, the question: Are the spot demand and bullish narratives enough to keep the uptrend going?

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