Uniswap has been continuing to improve its services for the users. In a recent move, it shared the news about the launch of candlestick charts that will help users with their financial decisions. The candlestick chart feature has gone live on the network and interested users can utilize it.
Candlestick Charts
A Candlestick chart is an important function that can help users make financial decisions based on the performance of an asset. In crypto or other assets, it is the visual representation of the trading activity. Thus, an investor can make informed decisions in a few minutes without consulting a wide range of resources.
These charts provide comprehensive information that includes the asset’s opening and closing price. In addition to that, it offers insights into the highest and lowest prices, while also the price movement. The price movement of an asset can be tracked in both the long and short term, thus the investor is able to decide whether to go for an asset or drop the idea.
Candlestick charts have been in use in the crypto industry for a while. They are being used by different exchanges and ecosystems to keep investors and users aware of the price movement of tokens and other assets.
Uniswap had plans to introduce the candlestick charts function to the system so that users could make informed decisions regarding the purchase of assets. In a recent Tweet, it said that the function has been integrated into the system and has gone live.
Uniswap introduces a necessary function
The official Twitter/X account of UniswapLabs said that the candlestick charts function has gone live and the users can utilize it. All they need to do is click the explore button and it will open up a new world for them.
In a video shared along with the Tweet, there is a description of how to use this function. Using this feature, the users can track the real-time price action of different assets. As Uniswap is a decentralized cryptocurrency exchange, this feature will be of much help to the users through easy access to long-term data. As they can assess the performance of an asset in real time, they will make informed decisions.
The users will be able to know about the spot trading patterns using the candlestick charts. They will be able to know which assets are selling hot and how much they can benefit from the trade through the performance of an asset. Thus, the new feature adds to the financial success of the traders.
The video shows a detail of which features are available on the candlestick chart and how they can be explored. Users can visit the Uniswap website or wallet app to check out this feature. In another linked tweet, it has also shared the details of new products that can help users swap smarter.
Benefits of live charts
As said earlier, candlestick charts are being used by traders and businesses to know how a particular asset is performing. There are candlesticks of two colors which include red and green. As the price moves, the size of the bar also changes which suggests if a specific asset can bring gains.
There are multiple benefits of live candlestick charts to users. These charts provide a detailed insight into the market sentiment which can help them get hold of some assets or dump others.
It shows the periods of optimism or pessimism, thus showing an insight into the psychology of the market. As they show price points, the users can make a guess about how much they will be able to make out of an asset. Thus, it is of great utility to the users to get help from the candlestick charts function.
Conclusion
Uniswap has announced that it has added a new feature to the app which can be accessed with the explore button. Users can utilize insights into assets through price changes and market sentiment. They can make decisions regarding the purchase of an asset without consulting multiple resources to see how a particular asset is performing.
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