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Blockchain Weekly - Issue No. 7

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BlockHash Research

April 5 · Issue #7 · View online

Covering the latest topics that move the market, chart signals that you should watch, the best low cap crypto projects and much more!


Hey guys! Sorry for the newsletter delay. I’ve been traveling between Colombia and the United States. But now that I have a minute, let’s talk about a crypto in particular that is making me excited.
One of the biggest trends in crypto for 2021 is DEXs (Decentralized Exchanges). A major reason for this is the decentralized nature of them and the lack of overarching compliance standards that often plague larger exchanges like Binance or Coinbase or Bittrex.
The one with the highest potential and that is boosting Ethereum at the moment is called Uniswap. Right now they boast a roughly 69% market share of all DEXs in 24hr volume, which is massive! On top of that, they are pushing out V3 of their protocol this May and will be able to scale and compete at the level of a global exchange powerhouse like those mentioned in the previous paragraph.
Developments like this in new niches tend to foreshadow massive revaluations and can be quite explosive. 🧨 So let’s cover the Uniswap chart today and look at some possible scenarios.

Uniswap (UNI)
Bullish Prediction:
On the daily chart, Uniswap is remained flat around the $30 range for over a month now with a strong floor around $25 and a ceiling around $35. This makes analysis a bit more simple. If the price can break $35 and the Bollinger Band can stay above the moving average on the daily, then we have a strong likelihood of entering price discovery and making new highs. Bitcoin dominance is also beginning to slip, so we might see a fresh injection of Bitcoin into Uniswap as a speculative play market wide.
Bearish Prediction:
On the other hand, if Uniswap fails to test the ceiling and falls below $25, then there could be a correlated correction as low as $19, the next resistance level downward. The most likely cause for this scenerio would be a failed V3 launch in May or another DEX swap rising to take away market share. It’s good to watch all these scenarios to see what plays out first.
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Stay tuned for the newsletter next Monday and thanks again for being a subscriber! Feel free to email me with any questions or suggestions you may have. Have a killer week trading!
Brandon Zemp
brandonzemp@blockhashresearch.com
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