Uniswap Price Analysis: Here’s Why UNI Price Can Jump Another 30%
The UNI price soared over 47% in the last seven days.The TVL has spiked by 30% this week, highlighting increased adoption.
Intensified bullish action could push the price toward the $18 mark.
The UNI price has recorded a strong bullish recovery by reclaiming its multi-month high. As per the latest on-chain sentiments, the Uniswap chain has experienced a 30.36% jump in its Total Value Locked (TVL) this month and has soared ~70% this year, highlighting strong fundamentals.
With the on-chain sentiments intensifying, will the Uniswap price record a new 52-week high soon? You are a few minutes away from finding out the short-term possibilities of the Uniswap (UNI) crypto token.
UNI Price Retests Its Important Resistance Level!
The Uniswap price has defied all the odds by maintaining its bullish price action. Notably, this altcoin has soared ~10% in 24 hours with a trading volume of $1.231 billion, a change of +108.08%.
Moreover, with a weekly surge of 46.69%, the UNI crypto token has breached its rising channel pattern in the daily time frame. Moreover, it has soared 61.56% during the last 30 days and has a Year-to-Date (YTD) return of 76.89%.
Uniswap Technical Sentiments
The Simple Moving Average (SMA) constantly supports the UNI coin price chart in the 1D time frame. This highlights a strong bullish sentiment for the altcoin in the market.
Further, the MACD indicator records a steady rise in the green histogram with its averages experiencing a similar price trend. This suggests a bullish outlook for the 22nd-largest crypto token.
Is Uniswap Worth Buying?
If the bulls regain momentum, the UNI crypto token will retest its resistance level of $13.50 this week. Furthermore, if the bullish sentiment intensifies, this could result in it heading toward its upper resistance level of $15.650 during the coming time.
However, if the bears outrun the bulls, the Uniswap price will retest its support level of $11.475. Moreover, if the bearish sentiment intensifies, this could pull the price of this altcoin toward its lower support level of $10.
