Uniswap has a new proposal pending to help users that have interacted with the exchange through a proxy or third-party to get their UNI airdrop. The proposal has already 37.5 million votes in favor and only needs to reach 40 million to pass. There are only 1.2 million votes against it.
It certainly seems that the proposal will most likely pass, which means that 12,619 will potentially claim 400 UNI each. There are only a handful of projects that are supported starting with Argent, DeFi Saver, Dharma, eidoo, FURUCOMBO, MEW, Monolith, Nuo, Opyn and rebalance.
If you have used any of these projects before, you could have the chance to claim 400 UNI tokens for free. More than 5,000,000 UNI tokens will be potentially distributed across accounts. This represents around $12 million at current prices.
UNI Price Analysis
The first and only airdrop so far happened on September 17, the price of UNI surprisingly had a significant rally from $2 to a peak of $8.6. However, the rally was short-lived due to the massive selling pressure from the airdrop.
UNI/USD 4-hour chart – TradingView
The price of UNI has been in a downtrend ever since, hitting lower lows almost every day. Clearly, another airdrop, although smaller, will have a negative impact on the price of UNI.
The current price is trying to stabilize at $2.4; however, there are no clear support levels on the way down. The RSI has been overextended several times in the past and although UNI did rebound briefly, it never got any real bullish continuation. The MACD on the other hand is on the verge of a bull cross which could help out in the short-term.
Nonetheless, considering the incoming selling pressure, it will be hard for UNI to remain above $2. Looking at the IOMAP chart, the strongest resistance area seems to be between $2.54 and $2.56, and the next most significant range at $2.66-2.69. It seems that a breakout above $2.56 could push the digital asset towards $2.69.
It also seems that the number of new addresses joining the Uniswap network is decreasing significantly in the past 7 days, being down 42%. Similarly, active addresses are decreasing by 27% in the past week. This shows a lack of interest in Uniswap, despite the strong correction.
Lack of buying pressure in conjunction with the upcoming selling pressure will most likely push UNI towards the psychological level at $2 in the short-term.
Recommended posts
-
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030? -
MIR And BADGER: How To Claim These Airdrops Worth Over $500! - How To Claim Your Free Uniswap (UNI) Tokens Worth Over $1000!
-
Conservative Cardano Prediction for 2023 – How high can Cardano go? -
How To Claim Ethereum Name Service (ENS) Airdrop - For DeFi Users: How To Claim LOTTO Airdrop Worth Hundreds Of $!
-
Around $2 Billion In Crypto Locked Inside Uniswap Will Be Released in 4 Days
- ShapeShift User Or Not? You Might Have Been Sent Thousands Of Dollars!
-
Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
-
CVC Price and SUSHI Price Explode Aiming for New 2020-highs - Ethereum Price Prediction – ETH On The Verge of a Massive Breakout
- BITCOIN Prices Hit 60K! Will Bitcoin Price BOOM HIGHER?
-
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right - Ripple Price Prediction: XRP Seems Poised for a 27% Move Soon
-
Top 5 Altcoins to BUY in February 2021 – Best Cryptocurrency Investments -
XRP Price is about to BOOM if the crypto market recovers! Buy $XRP? -
Ripple Price Prediction – Will XRP Price go back to 1$?
You might also like
More from TradingView
What is the Bitcoin CME gap?
Trading Bitcoin can follow many strategies. Do you use FA or TA? Are you a day trader, swing trader, scalper, …
Conservative Prediction: Can Shiba Inu reach $1 in 2023?
Can Shiba Inu reach $1 in 2023? What are some conservative predictions for Shiba Inu? Let's analyze, without hype!
Solana Price Prediction for February 2023: THIS Price is very likely!
Why is Solana up? And most importantly, what is a conservative Solana price prediction for February 2023? Let's analyze!
