- Uniswap price defining a large symmetrical triangle, diverging from the strength of other DeFi tokens over the last few weeks.
- UNI closed last week with the largest weekly decline since the May crash, at 21.20%.
- Grayscale Investments and CoinDesk Indexes partner to launch DeFi fund and DeFi index.
Uniswap price has fallen 30% since the 200-day simple moving average (SMA) test on July 7. The cryptocurrency now sits just above the lower trend line of a symmetrical triangle going back to the May 23 low. The near-term outlook for the DeFi token is mixed as UNI has decoupled from the bullish thrust underpinning the DeFi space off the June 22 low and taken on the form of the bearish cryptocurrency market. Market speculators should anticipate a test of at least the May 23 and June 22 lows.
Grayscale and Coindesk Indexes combine to fill a demand for DeFi assets
Grayscale Investment, the world’s largest digital currency asset manager, and CoinDesk Indexes, a subsidiary of CoinDesk Inc., launched a new, diversified Fund product, and the CoinDesk DeFi Index.
The new Fund will directly expose investors to industry-leading DeFi protocols through a market-capitalization weighted portfolio designed to track the new CoinDesk DeFi Index. The new fund marks Grayscale’s fifteenth investment product and its second diversified fund offering.
According to Grayscale Investment CEO Michael Sonnenshien, the new launch continues Grayscale’s commitment to creating opportunities for investors to capitalize on the emerging opportunities in the digital asset system.
Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem.
The Fund is now open for daily subscription by eligible individual and institutional accredited investors.
Meanwhile, the CoinDesk DeFi Index aims to provide a broad-based, benchmark representation of DeFi protocols, and the methodology includes liquid DeFi assets on a market cap-weighted basis. As of July 1, some of the Index’s largest assets include Uniswap (UNI/USD) at a 49.95% weighting, Aave (AAVE/USD) at 10.25%, Compound (COMP/USD) at 8.38% and Curve (CRV/USD) at 7.44%.
For CoinDesk Indexes, the “collaboration offers investors the data and tools they need to gain exposure to decentralized finance into their portfolios.”
Uniswap price shows that bulls are not active at current levels
Uniswap price has scripted a symmetrical triangle pattern over several weeks, beginning at the May 23 low. The coiling formation has developed half the time above the 200-day SMA and half below the strategically important moving average. At times UNI has shaken the bearish tendencies of the cryptocurrency market to participate in price strength generated by renewed interest in the DeFi space.
The measured move of the symmetrical triangle is over 55%, marking a tremendous move once the pattern resolves. On the downside, the Uniswap price target is $6.39, shattering the 78.6% Fibonacci retracement of the UNI rally originating at the end of November 2020 at $11.01 and the 2020 high printed in September 2020 at $8.66.
The more realistic decline if the symmetrical triangle resolves to the downside is the 78.6% retracement at $11.01, representing a loss of 25% from the pattern’s lower trend line.
A daily close below the lower trend line at $14.70 will confirm the breakdown and push Uniswap price towards the June 22 low of $13.90 and then the May 23 low of $13.01. If the bearish tone in the cryptocurrency market continues, UNI will be at risk of testing the 78.6% retracement at $11.01.
UNI/USD daily chart
A release to the upside from the symmetrical triangle is a tougher challenge for Uniswap price, with the declining 50-day SMA close to the triangle’s upper trend line at $21.50. A daily close above $21.50 would confirm a breakout, but UNI would be met with the sturdy resistance of the 200-day SMA at $24.30. Once above the long-term moving average, Uniswap price can pursue the price target of $34.03.
For a couple of weeks, DeFi cryptocurrencies staged a sizable rally off the June 22 low, lifting Uniswap price to the 200-day SMA at $23.45 and a gain of approximately 65%. However, the bearish rhythm of the cryptocurrency complex has punished the space and put UNI near the lower trend line of a symmetrical triangle, surrendering it a potential 25% decline.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Cardano stabilizes near $0.62 after Trump’s 90-day tariff pause-led surge
Cardano stabilizes around $0.62 on Thursday after a sharp recovery the previous day, triggered by US Donald Trump’s decision to pause tariffs for 90 days except for China and other countries that had retaliated against the reciprocal tariffs announced on April 2.

Solana signals bullish breakout as Huma Finance 2.0 launches on the network
Solana retests falling wedge pattern resistance as a 30% breakout looms. Huma Finance 2.0 joins the Solana DeFi ecosystem, allowing access to stable, real yield. A neutral RSI and macroeconomic uncertainty due to US President Donald Trump’s tariff policy could limit SOL’s rebound.

Bitcoin stabilizes around $82,000, Dead-Cat bounce or trendline breakout
Bitcoin (BTC) price stabilizes at around $82,000 on Thursday after recovering 8.25% the previous day. US President Donald Trump's announcement of a 90-day tariff pause on Wednesday triggered a sharp recovery in the crypto market.

Top 3 gainers Flare, Ondo and Bittensor: Will altcoins outperform Bitcoin after Trump's tariff pause?
Altcoins led by Flare, Ondo and Bittensor surge on Thursday as markets welcome President Trump's tariff pause. Bitcoin rally falters as traders quickly book profits amid Trump's constantly changing tariff policy.

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.