Uniswap (UNI) Poised For 45% Rally, On-Chain Metrics Confirm
Uniswap (UNI) is looking bullish, with predictions of a 45% rally backed by positive on-chain metrics. According to recent analysis, UNI's price broke out of a 35-day consolidation, signaling a potential upward move.¹
*Key Factors Driving the Rally:*
- _Breakout from Consolidation_: UNI's price broke out of a 35-day consolidation, indicating a potential rally ahead.
- _Positive On-Chain Metrics_: On-chain data shows tokens from dormant wallets are moving again, supporting the bullish thesis.
- _Technical Indicators_: The Relative Strength Index (RSI) and the Awesome Oscillator (AO) have breached their mean levels, indicating bullish momentum.
Some analysts predict that UNI could rally 35% to reach $10.61, with a more ambitious target of $12.80 in an extremely bullish scenario. However, it's essential to note that a daily candlestick close below $6.76 would invalidate the bullish thesis.
