Uniswap Crypto Next Target: $10 in sight!

2 months ago 26562

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Uniswap remains a key player in the decentralized finance (DeFi) space, with its highly efficient liquidity pools and decentralized trading protocol.

Uniswap is the biggest DEX and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.

The crypto coin is also looking for a good upmove, with a good 20% gain likely.

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Uniswap Crypto Price Analysis

Current Price: $6.64
Market Cap: $3.99 Billion
24h Trading Volume: $120 Million
Total Supply: 1 Billion UNI
Circulating Supply: 600.21 Million UNI

Price is in a Downtrend, however, it had a bullish breakout from Channel Down pattern, which could signal at least a temporary bullish trend reversal, with upside potential to $8.00. Stop Loss at $5.40.

Weekly Price Analysis

Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines.

With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.

This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.

7-Day Price Change: +4.97%
Weekly Open Price: $6.32
Trend: Short-term trend is Neutral, Medium-term trend is Strong Down and Long-term trend is Strong Down.
Momentum: Price is neither overbought nor oversold currently.
Support and Resistance: Nearest Support Zone is $5.60, then $4.80. Nearest Resistance Zone is $8.00, then $12.00.