UNI, the native coin of the Uniswap DEX, is up 1.5% in the last 24 hours, outperforming other major cryptocurrencies.
The coin is now approaching $4.0, with buyers stepping in amid favorable market conditions.
Furthermore, the integration of Uniswap API by MetaMask would help boost Uniswap’s adoption, ultimately pushing the price higher in the near to medium term.
MetaMask integrates Uniswap API
MetaMask, one of the leading wallet providers in the crypto space, has integrated the Uniswap API as one of its swap providers.
The integration gives MetaMask users a direct connection to Uniswap v2, v3, v4, and UniswapX.
According to Uniswap Labs, MetaMask integrated the Uniswap API for its deep liquidity, competitive pricing, and battle-tested infrastructure across more than 16 chains.
The same API already powers swaps across Uniswap Labs’ own apps, as well as products from OKX, Talos, Fireblocks, Anchorage Digital, Ledger, and more.
Uniswap Labs added that the integration allows MetaMask users to gain access to on-chain and off-chain liquidity, powered by efficient routing across Uniswap Protocol and UniswapX.
The team pointed out that its API is trusted by some of the most used platforms in crypto, including wallets like OKX and Ledger, institutional platforms like Fireblocks, Talos, and Anchorage Digital, and Uniswap Labs’ own apps.
In addition to this fundamental news, the derivatives data also paints a bullish picture.
The futures Open Interest (OI) for Uniswap reads $257 million, up from the $210 million recorded on Wednesday.
The funding rate has also switched positive, with UNI’s long-short-ratio now reading 1.19.
This metric staying above one suggests that the longs are paying the shorts, indicating a growing bullish bias.
Uniswap price forecast: UNI eyes the $4.3 swing high
Unlike Bitcoin, Ether, and XRP, the UNI/USD 4-hour chart is currently bullish and efficient.
The coin is up 16% in the last 30 days despite the broader crypto market underperforming during that period.
At press time, UNI is trading at $3.922 and could rally higher in the near term.
The momentum indicators switched bullish earlier this week, indicating that buyers have stepped in.
The Relative Strength Index (RSI) reads 56, above the neutral 50.
If the buying pressure increases, the RSI would surge higher and enter the overbought region in the near term.
The Moving Average Convergence Divergence (MACD) lines are also converging above the zero signal, indicating that the buying pressure is accumulating.
If the buying pressure persists, UNI could rally towards the February 26 swing high of $4.314 over the next few hours or days.
The RSI and MACD levels would need to surge higher before UNI can retest the $4.572 resistance level.
On the flip side, if the sellers regain control, the bulls would need to defend the weekend low of $3.819.
Losing this support level would give the bears more control, and UNI will likely retest the monthly low of $3.549.
The post Uniswap eyes $4.3 as buyers step in: Check forecast appeared first on Invezz
