AAVE and UNI Price Analysis: Will the DeFi Tokens Make a Comeback?

With the rising demand for AAVE and UNI for staking activities, these altcoin prices are ready for a trend reversal.

The cryptocurrency market is experiencing a bullish trend, with AAVE and UNI emerging as promising candidates for substantial price increases. As the demand for these altcoins for staking activities rises, their prices are poised for a trend reversal.

Despite Bitcoin's struggle to reach $60K and Ethereum's difficulty in maintaining $3K, these altcoins are attracting the attention of smart money. Here's a price analysis of AAVE and UNI to identify potential entry points for a bullish market.

AAVE, UNI Price Analysis: Key Takeaways

The AAVE token is valued at $100.57, showing a 0.7% increase in the last 24 hours and a 5.68% gain over the past week. With a circulating supply of 13,290,143 tokens, the altcoin's total market cap stands at $1.335 Billion, ranking it #59 in the crypto market.

In contrast, the UNI token is priced at $8.00, displaying a minimal intraday rise of 0.08%. However, over the past seven days, UNI has experienced a slight decline of 2.66%. With a circulating supply of 596,006,000 tokens, Uniswap boasts a market cap of $4.778 Billion, making it the 22nd largest cryptocurrency.

Despite their high valuations, both AAVE and UNI showcase massive upside potential in their price charts, offering opportunities for substantial price increases.

AAVE Price Analysis: Will It Break The Triangle?

Examining the weekly AAVE price trend, we observe a steep decline of 86% from the all-time high of $666. At a crucial support level of $45, the bulls intervened, leading to the current recovery after an extended consolidation phase.

The AAVE price encountered strong resistance at $220, followed by a breakout and another consolidating trend continuation triangle pattern. This week, the altcoin has recovered by 15.15%, while the broader market also shows a minor recovery.

After a 20% drop in the previous week, the recovery is evident. However, bullish crossover chances in MACD and the divergence in RSI are supporting the breakout possibility.

As per the Fibonacci levels, the uptrend in AAVE price could reach the 50% retracement level at $286. Hence, among AAVE and UNI, the AAVE token reveals an upside target of more than 200% in the near future.

UNI Price Analysis: End Of Correction Prediction

In the weekly chart, the UNI price trend showcases a strong declining trend with a long-coming resistance trendline. The correction phase forms a double top with a neckline at $7.

Currently, the UNI price is trading at $7.972 with an intraday move of 4.24% amidst the broader market minor recovery. While the chances of downfall are prominent, the reverse divergence in the weekly RSI line puts forth a bullish prediction.

With a bullish reversal, the UNI price could challenge the overhead trendline and offer a breakout opportunity. As per the Fibonacci levels, the uptrend could scale to the 50% retracement level at $23.23.

Hence, among AAVE and UNI, the Uniswap token reveals an upside target of almost 200% in the near future.

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