UNI Token Price Analysis: A Long-range Bullish Divergence Confirms The Price Floor, Signaling An Uptrend for UNI Token

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A recent surge in Ethereum transaction fees leads to an increase in layer-2 volumes for UNISWAP, the most famous and liquid decentralized crypto exchange. According to data sources from Nomics, a data analytics provider, UNISWAP V3 brought in 80 million USD in volume in Arbitrum compared to 14 million USD on Optimism.
L2beat, a Layer-2 data aggregator show records of Arbitrum representing 60% of the TVL-Total value locked across Layer-2 following its mainnet launch in September.
Let’s analyze the price charts of the UNIUSDT crypto pair, starting from a weekly chart overview.
UNISWAP (UNI) Weekly Chart Analysis

The UNIUSDT price chart had its fair share of the all-around crypto price slump revealed as a trigger from a bearish divergence pattern.
Following the 67% price slump, the UNIUSDT slowly attempts a price recovery while trading within a side-ways chart structure.
An earlier climb in the RSI value above level-75 on 09 August hints at the bullish recovery and a build-up of price

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