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A look into what’s holding back Uniswap’s long-overdue rally
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The past few months have been quite mundane for Uniswap. This DeFi token last witnessed a proper rally back in July-August. Over that period, notably, its price surged by more than 120% on the charts.
However, that didn’t last long. Since its honeymoon phase passed, UNI has either fallen on the charts or traded horizontally on the same.
UNI/USDT || Source: TradingView
As expected, most of Uniswap’s metrics have been exhibiting bearish market trends. Market participants’ interest with respect to this token is far from brewing. In fact, the state of the transaction count metric supported the aforementioned claim.
This metric has been hovering around its lows for quite a few weeks now, but the state of the same became even worse on 10 November.
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