- Uniswap price is printing a positive Friday that originated in the ASIA PAC session.
- UNI still has a long way to go to get a weekly gain.
- Expect a pop higher as US job reports are an opportunity in disguise.
Uniswap (UNI) price rallied higher this Friday after the US jobs report triggered a knee-jerk reaction with a brief break lower. Expect to see a strong situation with UNI rallying substantially higher as traders buy risk assets across the board. Although chances are slim, UNI bulls could close out the week flat and erase all losses from the beginning of this week.
Uniswap price produces positive bullish move
Uniswap price popped in the aftermath of the US jobs numbers after the initial move was a leg lower on the back of a strong release. Looking further under the hood, another picture is painted as the jobs added are part-time jobs while full-time jobs have turned negative. This means that more people have been laid off from their full-time jobs than were added. The jobs number might beat expectations, but it is only a part-time boost.
UNI followed the synchronized global move with that move lower only to recover in full and head higher once the dust started to settle. Expect now to see $5.40 to come under pressure. Once that is broken, UNI bulls can rally all the way up to $5.70 in the US session this Friday and go for an unchanged weekly performance as all losses since Monday will get erased..
UNI/USD 4H-chart
A bigger threat would come from another turnaround in the markets, should the focus shift back to the big jobs number. Expect a sudden breakdown lower toward $5.20. Should risk assets in general start to roll over, more decline is in the cards. To the downside, that means $4.95 after $5 gets broken.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.