Uniswap Bucks Market Trend, UNI Price Hints Up 30%?
As the crypto market stabilized, top altcoins regained their momentum, adding significant value to their respective portfolios in a short period of time.
Following this, the price of Uniswap recorded a jump of more than 11% in the last seven days. Along with this, questions such as “Will the price of UNI reach $10 by 2024?” Questions like “How high is Uniswap?” Constantly wanted.
Dive into this article, as we cover Uniswap (UNI) crypto token market sentiments, price analysis, and potential short-term price targets for September.
UNI Coin Price On The Verge Of Major Breakout?
Despite increasing bearish sentiment in the cryptocurrency market, Uniswap's price has shown positive price action with an increase of ~7% over the past 30 days. This indicates an increase in buying pressure for altcoins in the market.
Additionally, it formed a symmetrical triangle pattern on the price chart and continued to trade within it since August. In particular, with a capitalization of 3.975 billion dollars, this altcoin took the 21st place in the global crypto list.
Uniswap market sentiment
The Simple Moving Average (SMA) is continuously supporting the UNI price chart in the 1D time frame. This shows strong sentiment for altcoin in the crypto market.
In addition, the MACD indicator has shown a constant increase in the green histogram, the averages are experiencing positive crossings. This suggests that Uniswap crypto may continue to gain value this week.
Is UNI Coin still a good investment?
Uniswap crypto will test the resistance trend of the symmetrical triangle pattern if the market continues to trade with great influence. A breakout could push the price towards the high resistance level of $9.550 next time.
Conversely, if the bears beat the bulls, the altcoin will retest the critical support trend of $5.725. Additionally, if the bears continue to strengthen, this could send the Uniswap price down to yearly lows.
Concerned about the future of UNI? Read our in-depth Uniswap (UNI) price forecast for future highs!
