- Uniswap’s UNI token is the first DeFi token to enter the list of top 10 cryptos by market cap.
- UNI inches close to XRP, crosses LTC with the market cap surging $16.6 billion.
- Two-week-old rising trend line offers immediate hurdle to the north.
Uniswap’s UNI crosses the headline cryptocurrencies, per market cap, while being the first DeFi token to enter the list of top 10 during Monday. In doing so, the UNI picks up bids above $34.00 during early Monday.
With the market capitalization of over $16.6 billion, Uniswap’s UNI rises past Litecoin’s (LTC) size of $12.2 billion, while also inching closer to Ripple’s (XRP) market cap.
The fundamental push helps the UNI/USD to gain traction towards an ascending trend line from February 20, currently around $35.00.
However, any further upside, which is less doubtful, may not hesitate to attack the $40.00 threshold.
Alternatively, a 21-day SMA level of $25.77 and an ascending support line from January 22, currently around $22.80, could test the UNI/USD bears.
Overall, the UNI/USD is up for a fresh run-up and the bulls shouldn’t ignore the fundamental news.
UNI/USD daily chart
Trend: Bullish
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