Uniswap price prediction: UNI plunges 16% as it vows to fight SEC lawsuit, Solana star soars on top exchange listing

Uniswap price plunged 16% in the last 24 hours. Deal for $9.31 As of 3:12 a.m. EST, trading volume had increased 428% to $749 million.

This comes after the Securities and Exchange Commission (SEC) filed a Notice of Wealth against Uniswap, one of the largest decentralized finance (DeFi) platforms. A Wells Notice is a formal notice issued before arraignment to give the defendant time to refute the charges.

Today Uniswap Labs received a Wells Notice from the SEC.

And we’re ready to fight

This is the latest political effort to target even top cryptocurrency industry actors such as Uniswap and Coinbase.

All Uniswap products and Uniswap protocol are not affected https://t.co/i2p5LubELk

— Uniswap Labs 🦄 (@Uniswap) April 10, 2024

The specific nature of the SEC’s plans to take action against Uniswap has not been disclosed. Uniswap has vowed not to go down without a fight.

“I wasn’t surprised. I was just annoyed, disappointed and ready to fight,” Uniswap founder Hayden Adams said in a post to X on April 10.

He expects the legal battle to “take years” as he prepares to “go all the way to the Supreme Court.”

Uniswap price in a downtrend past the lower boundary of the falling wedge.

The Uniswap price experienced a sharp rise in November and December 2023, before going through a consolidation phase in January and trading within a range of $6.0. But by late February, the bulls had won the battle for dominance, pushing the price to a yearly high of $17.

The bulls were unable to maintain their bullish stance as the price experienced a downtrend through a wedge pattern that fell to the support area around $10.41. The downtrend pushed the price beyond the lower limit of the descending wedge, negating the bullish outlook for the price.

UNI is trading below its 50-day and 200-day simple moving averages (SMAs) as the price retraces.

Additionally, the Relative Strength Index (RSI) has surpassed the oversold level of 30 and is currently at 15, indicating that UNI is currently oversold, indicating extreme selling pressure.

Uniswap price prediction

According to Uniswap price analysis, UNI is currently in a downtrend and the price has crossed the lower limit of the falling wedge pattern. The falling wedge pattern serves as important support for bulls as they prepare for a trend reversal.

Additionally, RSI has already crossed into oversold territory, which could signal a price reversal as oversold assets open up more buying opportunities for bulls. If the bulls stage a bullish reversal, the current target is set at $16.0, which could allow the price to surge beyond the descending wedge.

However, the 50-day SMA has crossed below the 200-day SMA, forming a dead cross at $11.86, indicating that UNI may continue its downward trend. In this case, $7.2 becomes an immediate buffer against downward pressure.

As Uniswap’s woes continue, investors are jumping on Solana star Smog, hinting at another CEX listing in the near future.

SMOG surges 17% following CEX listing and is set to breakout, Best Cryptocurrency to Buy in 2024

SMOG TokenBuilt on the Solana chain, it has been on an incredible journey of success since its fair launch, especially since its listing on MEXC.

We are pleased to announce the following: @SMOGToken Kickstarter has ended $smog will be listed on #Mexico!

🔹Deposit: Open
🔹Innovation Zone SMOG/USDT Trading: 2024-04-04 09:00 (UTC)

Details: https://t.co/3ecyvrTv2n pic.twitter.com/kvgoFiYOib

– MEXC (@MEXC_Official) April 4, 2024

Since being listed on MEXC, the token has been on the rise, with its price surging 17% in the last 24 hours, reaching $0.124 and trading volume reaching $1.08 million.

Smog aims to become the biggest new Solana meme coin and has garnered a lot of attention through an exciting airdrop campaign on social media managed by Zealy.

This interactive, gamified campaign included community tasks to earn airdrop points in the first season, which ended on April 3. The second season, currently underway, focuses more on trading activity.

This strategy has proven successful, with Smog boasting over 110,000 holders and 7.5 million completed Zealy quests. With a total token supply of 1.4 billion, 35% were allocated for the “largest airdrop in history.”

42% APY, would you like to stake your smog with your next 100X cryptocurrency?

Smog also offers staking opportunities with an Annual Percentage Yield (APY) of 42%.Token holders are encouraged to participate in the network and hold their tokens for longer periods of time.

Buy or Stake ERC-20 $smog #token Through our platform. 💰🐉

Staked tokens are securely locked for 90 days and rewards available for withdrawal at your convenience. 🔒💸

All tokens purchased through our service are automatically staked. 🔄

🔗https://t.co/8dPFpww1Ub

— Smog (@SMOGToken) February 22, 2024

Jacob Bury, a popular cryptocurrency YouTuber, says Smog has the potential to be the next 1000X cryptocurrency.

The developer hinted that the MEXC listing could soon open the door to listing on another top exchange that would expose Smog to a much broader investor base.

that much The best place to buy Smog Tokens is the official website.A 10% discount is provided while the offer lasts.

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