Uniswap, a DeFi protocol founded in 2018 by former mechanical engineer Hayden Adams. The Uniswap exchange is a 100% on-chain automated market maker (AMM) protocol on the Ethereum blockchain. The AMM allows DeFi users to swap ether (ETH) for any ERC-20 token without intermediaries, solving many liquidity problems most exchanges face. Uniswap’s unique features and utility make its token, UNI, attractive to traders and investors.
Will UNI reach $100? How high can UNI go in five years? Let’s take a look at Uniswap technical analysis and price prediction to provide answers to these queries.
Overview
| Cryptocurrency | Uniswap |
| Abbreviation | UNI |
| Current Price | $8.098 |
| Market Cap | $4,832,773,747 |
| Trading Volume | $223,132,772 |
| Circulating Supply | 600,034,295 |
| All-time High | $44.97 May 03, 2021 |
| All-time Low | $0.419 Sep 17, 2020 |
| 24-hour High | $8.64 |
| 24-hour Low | $7.89 |
Uniswap price prediction: Technical analysis
| Metric | Value |
| Volatility (30-day Variation) | 6.90% |
| 50-Day SMA | 9.68 |
| 200-Day SMA | 8.87 |
| Sentiment | Bearish |
| Fear & Greed | 44 (Fear) |
| Green Days | 14/30 (47%) |
Uniswap price analysis: UNI value descends to $8.098 amidst a bearish crash
TL;DR Breakdown
- Uniswap price analysis confirms a downtrend.
- The coin value has dropped to $8.098.
- Support is being provided at $7.308 extreme.
A strong downswing has been observed over the past 24 hours, per the Uniswap price prediction for July 16, 2024. The selling activity has been intensifying again, considering the latest bearish comeback. The past week proved highly favorable for bullish progress, as a steady upswing was recorded. However, today, the coin value has collapsed to $8.098 amidst the growing bearish momentum. If the bears remain persistent, further devaluation in coin value may be expected soon.
Uniswap price analysis on a daily time frame: Downtrend intensifies as UNI sinks to the $8.098 bottom
The daily Uniswap price prediction confirms a decreasing price movement for the day. The bears regained momentum, as a red candlestick remained visible on the one-day price chart. The coin value has declined to $8.098, considering the bearish swing observed over the last 24 hours. On the other hand, the moving average (MA) indicator shows a considerable rise in its overall value. Its value has stepped up to $8.161 because of the aggravating bullish swing observed in the earlier part of this week.
Volatility is declining, a relatively bullish signal for the coming days. Because of the receding volatility, the upper end of the Bollinger bands indicator has shifted to a high of $9.486. The lower extreme has moved to $7.308, indicating sufficient support for the cryptocurrency. The Relative Strength Index (RSI) confirms a bearish shift in price movements.
Price analysis on the 4-hour chart: UNI returns to $8.093 after receiving the latest boost
The bulls have secured a victory during the past four hours of the day. The hourly price analysis for UNI/USD confirms a highly bullish scenario for the cryptocurrency. A strong downswing was recorded in the earlier hours of the day. However, the coin value has increased to $8.093 amidst the latest recovery. However, the moving average indicator dictates a considerable decline in its overall value. The indicator’s overall value has receded to $8.386 because of the earlier bearish crash.
