Uniswap on Saturday led the gainers list with an over 11% jump in the price. The price rise came against pressured crypto markets with most coins trading in the red territory.
Uniswap (UNI) price soared over 11% on Saturday, defying the broader market trends that saw most coins trading in the red. Despite the consolidation in the crypto market, UNI managed to post impressive gains.
This price surge comes as a pleasant surprise, especially considering the recent downturn in the prices of major cryptocurrencies. However, the technical indicators for UNI are displaying bullish signals, hinting at the possibility of further gains.
At press time, the coin is trading at $11.45, up over 11% compared to the same time last day. A closer look at UNI’s price reveals that the coin has been on a volatile trajectory. While it did enjoy a surge in prices, the coin also faced a drop in trading volume.
Over the past 24 hours, UNI prices surged by 9.26%, while the trading volume decreased by 30.68%. This imbalance suggests a buildup of bullish sentiment toward the cryptocurrency despite the lower trading activity.
As the market gains strength, UNI might test the resistance trend line of its channel pattern. Uniswap could cross the upper resistance at $13.510 over the upcoming week.
According to the Uniswap price prediction for July 15, 2024, by Gov Capital, the coin is expected to rally by 235.10% to reach $39.07. The Fear & Greed Index is currently at 74 (Greed), indicating bullish market sentiment based on analysts’ views.
Uniswap experienced 11.41% price volatility over the last 30 days and 15/30 (or 50%) green days. In contrast, the cryptocurrency Fear & Greed Index signaled Extreme Fear last Saturday.
From the analysis, Uniswap’s price is expected to reach a maximum of $56.44 in the next year. Uniswap’s role as a decentralized exchange token could benefit from a favorable regulatory climate for cryptocurrencies and further growth in the tech sector.
News source：https://www.kdj.com/cryptocurrencies-news/articles/uniswap-uni-price-prediction-uni-continue-rise-defy-market-trends.html
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