Uniswap (UNI) and AAVE See Double-Digit Gains as Bitcoin Dominance at 60-Mark Zone Affects Altcoin Price Action

The U.S. post-election has seen the price of Bitcoin rally to new highs, creating much excitement for altcoins such as DeFi tokens

The U.S. post-election has seen the price of Bitcoin (BTC) rally to new highs, creating much excitement for altcoins. While altcoins have been struggling to catch up due to Bitcoin’s dominance, some DeFi tokens have shown strength.

Let’s take a deep look at Uniswap (UNI) and compare their various price actions ahead of the coming days. Whales buying into these tokens would be looking to push prices to the nearest highs.

Altcoins Struggle To Catch Up Excluding Some DeFi Tokens

The cryptocurrency market has relished much praise on BTC’s post-election price action performance as the price of Bitcoin doesn’t look like slowing down, creating new highs with each passing day.

However, BTC’s dominance, which sits above the 60 mark, has made altcoins, including some DeFi tokens, struggle with price rallies. This has left no room for much price rally, with Ethereum not left out as price struggles to break past its $2,660 mark region.

Key reasons for BTC’s continuous rally include billions of dollars pouring into Bitcoin exchange-traded funds in the past weeks, thereby reinforcing BTC’s price rally to new highs.

While BTC continues its momentum to the upside, special DeFi tokens such as AAVE, UNI, and MKR have all maintained their uptrend price rally. Let’s discuss 3 reasons to watch UNI’s price action and short-term price targets.

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