Uniswap technical analysis – bullish price action to continue

  • $7.5 is a pivotal level for Uniswap
  • A move above should trigger more strength 
  • Bulls may target $14 if the price action holds above $5

Uniswap had a terrible 2022. It dropped like a rock.

But technical analysis suggests that a bottom might be in place. During the second half of 2022, Uniswap consolidated in what appears to be a contracting triangle.

The bullish breakout happened in 2023 when Uniswap rallied in the first two months together with the rest of the cryptocurrency market. As the price overcomes the upper edge of the contracting triangle, where will Uniswap go next?

UNIUSD chart by TradingView

A move above $7.5 pivotal area should trigger more strength

The cryptocurrency’s market rally in the first two months of 2023 is a relief to many crypto investors. Faith in the market succumbed to very low levels after the FTX saga as investors fled the market.

But buyers stepped in, as reflected by the Uniswap daily chart. For more than six months, the market had formed a contracting triangle that acted as a reversal pattern.

Now that the triangle broke to the upside during the 2023 rally, where can the price go?

Technical analysis suggests more strength ahead. While the $7.5 area offered strong resistance, a move above it is pivotal.

Therefore, bulls may want to place a buy-stop order at $8 with a stop at $5. The take-profit level should exceed the previous lower high belonging to the 2022 bearish trend. Also, it should exceed the longest segment of the triangular pattern. Hence, a take-profit order in the $14 area would make sense.

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EOS Price Making Slow Gains While Metacade Set to 100x in 2023

Despite being one of crypto’s oldest and most well-known projects, EOS has lagged behind the rest of the market in recent months. But what does the future hold for EOS? In this article, you’ll discover EOS price predictions for 2023, 2024, and 2025, and find out why some are predicting Metacade’s MCADE token could rocket 100x in 2023.

EOS (EOS) Was One of 2022’s Worst Performers

EOS is a smart contract-enabled blockchain launched in 2017. Touted as one of the leading “Ethereum killers”, EOS rose through the ranks to become one of the most valuable cryptocurrencies. However, despite remaining in the top 50 most valuable projects during the crypto winter, EOS’s performance has been underwhelming recently to say the least. 

One just needs to look at EOS’s market cap to determine that most crypto investors feel the same. In 2018, its market cap peaked at $17.5 billion, more than Cardano’s current market cap (CoinGecko). However, despite the tremendous bull run in 2021, it briefly peaked at $13.5 billion in May before plummeting to $3.5 billion a month later.

So why has EOS’s growth been so lackluster? Many investors seem concerned that EOS offers nothing different from the dozens of layer-1 solutions on the market. Moreover, many have cited high centralization among validators and several damaging hacks as reasons to stay away from the project. 

EOS (EOS) Price Prediction

While much of the market suffered during the ongoing crypto winter, EOS seemed to be one of the biggest losers. It fell almost 95% from its May 2021 peak to a low in November 2022, although it has risen 43.5% as the crypto winter began to thaw in January. 

Many EOS price predictions have benefitted from the projected bull run in 2023, but they still fall short of many others, like Metacade. Maximum EOS price predictions for 2023 lie around $1.80, up over 63% from its current price of $1.10. Beyond that, EOS price predictions for 2024 and 2025 stand at $2.93 and $5.09, respectively. While these returns aren’t awful, many projects are expected to offer much higher gains by the end of the year. One such project is Metacade. 

Metacade (MCADE) is Expected to Dominate Play-To-Earn

Metacade is a community hub designed to be a one-stop platform for all things play-to-earn (P2E) gaming. GameFi is set to hit the mainstream in 2023 as more players flock to join the P2E revolution, and Metacade will be the top spot for meeting like-minded gamers, learning how to get ahead in the latest P2E games, and even playing a direct role in determining the future of the industry. 

There’ll be forums for discussing the latest P2E games, real-time chats for discussing strategies and sharing tips, and spaces for reading the hottest GameFi alpha posted by P2E veterans. One feature attracting plenty of attention to Metacade during its ongoing presale is its reward system, where users can earn MCADE directly, for contributing to the platform and interacting with others.

Perhaps the biggest game-changer of all will be Metacade’s Metagrant initiative, launching later this year. This scheme allows developers to propose game ideas for the community to vote on. The project that earns the most votes is awarded funding from the Metacade treasury to bring the game to life, with the final game being added to Metacade’s virtual arcade. Developers even have the option to use the platform’s native testing environment to receive feedback on their games.

There are also plans for a decentralized autonomous organization (DAO), a pay-to-play virtual arcade, and regular community events to keep users engaged. Recently, Metacade gained Certik approval, one of the leaders in blockchain auditing and transparency, further boosting its reputation in the eyes of potential investors and users. 

Metacade (MCADE) Price Prediction

These aspects have led to thousands of investors rushing to pick up MCADE tokens in presale, with over $7.8m of investment flowing into the project in just 14 weeks after the launch. By the time presale finishes, MCADE will be worth $0.02, but some analysts have made bold predictions that it could reach $2 by the end of 2023 – 100x returns in just under a year!

In 2024 and 2025, many experts forecast that, as P2E gaming takes off, the price of MCADE could surge to at least $4.50 and $6, respectively. For unique projects like Metacade, achieving these kinds of returns is certainly not out of the question. 

Metacade (MCADE) may be a Much Better Investment 

In summary, EOS has suffered immensely during the recent crypto winter, and ultimately, doesn’t seem to have much going for it in terms of innovation or growth potential. Metacade, on the other hand, is effectively the opposite. It is positioning itself to become a leader of the P2E industry by offering some groundbreaking features that gamers are likely to find incredibly valuable.

Meanwhile, the expected growth of GameFi in 2023 and beyond could be a huge catalyst for Metacade’s user base to quickly expand, driving up the price of MCADE in the process. If you want to get in before this growth occurs, be fast. MCADE tokens are currently on sale for $0.0155, and time is running out to grab tokens this cheap before its price continues to climb. Forget EOS price predictions as Metacade could be a much better investment. 

You can buy EOS (EOS) at eToro here.

You can participate in the Metacade presale here.

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Robinhood is under investigation by the US SEC for its crypto activities

  • Robinhood Markets Inc. disclosed investigation by the SEC in its most recent 10-K filing with the SEC
  • Robinhood has listed a number of cryptocurrencies and also offers crypto custody and trading services.
  • It was issued with an investigative subpoena on December 22 just after the collapse of FTX.

The crypto industry is facing a major regulatory crackdown, especially in the United States of America as the US Securities and Exchanges Commission (SEC) take on several crypto projects. Robinhood recently confirmed through its recent 10-K filing with the SEC that the US SEC is also on its neck for its cryptocurrency activities.

Robinhood has revealed that it received an investigative subpoena from the SEC in December 2022, just weeks after the collapse of the FTX crypto exchange. The move by the SEC is the latest against a series of crackdowns against the cryptocurrency industry following the collapse of the FTX and the bankruptcy filing of several other crypto firms.

Potential risks to Robinhood’s business

Robinhood disclosed in the filing that the subpoena from the SEC regarding its “supported cryptocurrencies, custody of cryptocurrencies, and platform operations” is among potential risks to its business.

A subpoena normally requires the respondent to appear before a court and testify for an ongoing investigation.

Besides the SEC subpoena, Robinhood revealed that it also received another subpoena from the California Attorney General’s office regarding its trading platform, custody of customer assets, customer disclosures and cryptocurrency listing. The firm stated that it is cooperating with the California investigations.

At the moment, Robinhood lists 18 cryptocurrencies on its trading app including Ethereum (ETH), Bitcoin (BTC), and Dogecoin (DOGE) in addition to stocks. It went through rapid growth during the COVID-19 pandemic because it offers an easy way to start trading, low-interest rates, and stimulus checks.

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SEC Chair Gensler’s “opinion is not the law”, crypto expert says

  • Gary Gensler, the Chair of US US Securities and Exchange Commission (SEC) is increasingly aggressive on crypto.
  • He recently told the New York Magazine that nearly every token had features that point to them being securities.
  • Marcus Sotiriou says the SEC cannot prosecute all the companies and that Gensler’s opinion isn’t law.

Securities and Exchange Commission (SEC) Chair Gary Gensler recently opined that all tokens, except for Bitcoin (BTC), are securities.

The SEC chair’s comments are part of an aggressive stance he has taken against crypto tokens. However, Gensler’s opinion isn’t the law, Marcus Sotiriou, an analyst at publicly-listed digital asset broker GlobalBlock said in a market commetary.

SEC Chair said all crypto except BTC are unregistered securities

Gensler recently told the New York Magazine that for every other cryptocurrency that’s not bitcoin, there is a website, a foundation, entrepreneurs, or legal entities set up in a tax haven. 

According to him, the projects still qualify as securities offerings even if they try to make it difficult to jurisdictionally bring them under the existing securities laws.

The SEC boss has previously said it will not ban crypto, but it also over the past two years increased its enforcement actions across the space. Indeed, the regulator continues to battle in court with Ripple Labs, the creator of cryptocurrency XRP, over allegations that the token was offered as an unregistered security. 

Ripple Chief Legal Officer has highlighted that Gensler needs to “recuse himself” from any further enforcement actions on the basis of his prejudgement of outcomes.

Elsewhere, the regulator has sued numerous entities and individuals, striking settlement deals with a number of them amid a growing environment of enforcement actions.

SEC Chair’s stance “not the law”

Sotiriou says the SEC taking the current path could see it lose ground relative to the number of new crypto tokens coming into use across the industry. Ideally, the number of tokens the SEC wants registered as securities are more than 9,000.

I think we need to ask what the SEC’s capacity to prosecute digital asset trading companies is. If they were able to prosecute less than 500 companies, they will probably be losing ground relative to new tokens being created,” Sotiriou noted.

If it cannot prosecute all the companies it might be targeting, the regulator might have to “prioritise.” But how does the watchdog determine who to sue and who not to? According to the analyst, this might come down to the SEC’s opinion – which isn’t the law.

Ultimately, Gensler’s opinion is not the law, and every case the SEC brings up has to be proven in court. The longer this uncertainty is in limbo though, the worse it is for the whole industry,” he added.

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