UNI looks to rally following Uniswap’s Moonpay partnership

• UNI is up by less than 1% today as the broader crypto market continues to underperform.

• Uniswap announced a strategic partnership with Moonpay earlier this week.

• The total crypto market cap could drop below $800 billion as the market continues to perform poorly.

Uniswap allows users to purchase crypto on the Uniswap Web App

The Uniswap team announced earlier this week that users can now purchase crypto on the Uniswap Web App using a credit/debit card or bank transfer. This is thanks to its partnership with Moonpay.

1/ Go direct to DeFi 🚄

Starting today, you can now purchase crypto on the Uniswap Web App using a credit/debit card or bank transfer at the best rates in web3 thanks to our partnership with @moonpay! 💸https://t.co/YVyk8e6d2h

— Uniswap Labs 🦄 (@Uniswap) December 20, 2022

Users can connect their wallet to the Uniswap Web App and be able to buy crypto using fiat. Despite this latest cryptocurrency news, UNI is up by less than 1% in the last 24 hours.

At press time, the price of Uniswap stands at $5.33 per coin. The positive performance comes as the broader cryptocurrency market continues to underperform. 

The total crypto market cap currently stands at $810 billion, down by less than 1% in the last 24 hours. Bitcoin continues to struggle below the $17k resistance level and is also trading in the red zone today.

Key levels to watch

The UNI/USD chart is bearish despite Uniswap performing positively over the last few hours. The technical indicators show that UNI’s performance could improve in the near term.

The MACD line remains below the neutral zone, and with UNI’s ongoing performance, it could find it tough to move into the positive region.

The 14-day relative strength of 50 shows that UNI is no longer in the oversold region. However, it would need to perform even better if it intends to enter the overbought area.

If the positive momentum increases, UNI could surge past the first major resistance level at $5.996 before the end of the day. However, UNI would need the support of the broader cryptocurrency market to surge past the $6.6 resistance level in the near term.

Where to buy Uniswap now