Uniswap price prediction is setting targets for 2021-2022; analysts predict what next for UNI, which seeks to democratize finance by replacing legacy, middlemen. The project, if successful, will disrupt every aspect of banking, lending, and trading.
At press time, UNI was trading at $21.95, according to data available on CoinMarketCap. In that effect, Uniswap commands an impressive market cap of around $13 billion, of which the fully diluted market cap stands at $21 billion. It ranks 12 on the market.
With plenty of UNI price prediction floating online and in trading communities, which ones make the most sense. Keep on reading to find out the road ahead for Uniswap. Here’s how that might play out.
Uniswap Price Prediction: Technical Analysis
It is not at all unusual for a cryptocurrency to spot a major uptrend followed by a lengthy consolidated period. That is the case of UNI today, and many short-term time frame traders are bound to grow increasingly impatient and sell long before they should. However, a properly employed investment strategy is vital because this consolidating crypto is well worth watching.
Uniswap price prediction crushed from mid-July to mid-August; UNI jumped from $14.6 in July to $31.46 by August. However, this price still falls short of its all-time highs in the $40 neighborhood. Still, UNI managed to skate past the best guesses of top crypto analysts. After posting this better-than-expected price action, we find guidance to estimate where UNI is headed next.
So what happened? For the better part of four weeks, UNI broke past 20-day moving averages in a show of strength, bursting through key resistance levels, but failed to break past the resistance level at $31.2. It just wasn’t time for UNI to launch a campaign to break past the historical all-time high. However, it might just be possible that the bearish setup is attempting to test support at $25.4 before rising to make this breakout.
The most frustrating part about UNI is that the bearish descending is growing increasingly strong, judging by the candlestick formation. While the setup is still ripe for correction on the support line, you should proceed with caution. Besides, the broader market is at a positive juncture, and UNI is bound to submit to market momentum.
Notice the price action in the chart above; Uniswap boasts a rate that is proportionately higher than Bitcoin price prediction. Both Bitcoin and Uniswap have been making decent moves, but take note of every time both assets appear to converge and move in synch, it is always followed by a boost of strength on Uniswap.
Therefore, while the short-term bear movement looks strong, the support line should hold with a false breakout, of course. A bullish reversal is coming on the heels of strong technical and fundamentals. Another major component to boost your confidence in this Uniswap price prediction is the idea that Uniswap is in a strong area of the cryptocurrency market.
The RSI is approaching an all-time low point, currently trending on 30, which is bearish. RSI is near oversold, but it doesn’t tell the entire picture. The DMI is also bearish and stays above the ADX and DMI+ lines. Regardless, UNI is all set up to be a supportive environment for the remainder of the year.
Looking at the normal seasonal tendencies and comparing them to actual prices can lead us to spot things, which is where the daily chart shows its importance. If you scroll back just a little, you can see the consolidation pattern repeating itself. End of Year seasons has a solid reputation as a profitable time for cryptocurrencies. This year, that good stuff is likely to wrap itself on Uniswap crypto early in the month and then surprise a bunch of skeptics.
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