Uniswap's short-term price trend is bearish, as indicated by the recent decrease of 5.87% over the past 24 hours to $7.241. This trend is contrary to the positive performance over the past week, where the price experienced an up-trend of 8.0%, moving from $6.86 to its current price1. The chart comparing price movement and volatility for Uniswap over the past 24 hours and the past week highlights the volatility and the potential for price fluctuations1.
Given the current sentiment and recent price movements, it is difficult to predict a definitive price increase over the night. However, the long-term outlook for Uniswap is positive, as evidenced by the significant earnings report for Uniswap Labs, with the organization earning more than $51M in six months2. The introduction of a new fee model has been successful in boosting the DEX's bottom line, and the market has absorbed the new front-end fees positively2. Additionally, the Uniswap Fear and Greed Index indicates a positive sentiment with a score of 70, suggesting greed3. This sentiment, combined with the potential for market recovery after a period of bearishness, could contribute to a price increase over the long term.
In conclusion, while short-term price movements are unpredictable, the long-term prospects for Uniswap are positive, which could lead to a price increase over the night as part of a broader bullish trend.