Analyst Eyes Short-term Rally Towards $10

Uniswap (UNI) is below the lower end of the ascending channel, suggesting that the rate of rise is slowing. The currency is currently facing resistance near the 7.70 level. This position could provoke a negative reaction, but a break above 7.70 could imply optimism.

In a negative volume balance, the trading volume when the price is falling is greater than the trading volume when the price is rising, indicating a decline in investor confidence. The RSI (Relative Strength Index) just dropped below 30 after weeks of price decline. Therefore, UNI is showing strong negative momentum, suggesting further bearish trends ahead. Still, a low RSI could mean an asset is oversold, especially with respect to prominent stocks, which could create an opportunity for a bullish reversal.

Uniswap (UNI) current price is $7.50 since last update, with 24-hour trading volume of $256.95 million and market cap of $4.49 billion. Over the past day, UNI price has slightly decreased by 0.57%.

Source: CoinMarketcap

Uniswap (UNI) Short-term upside potential: target at $10 mark

Despite these bearish signals, cryptocurrency expert Ali Martinez said: shine light on In an interesting development in recent analysis, the TD Sequential indicator flashed a buy signal on the daily chart of Uniswap. This signal suggests that $UNI may be gearing up for a short-term rally lasting 1-4 days.

There is speculation that this bullish momentum could cause the price of the UNI dollar to soar and reach the $10 level. Investors and traders are eyeing this potential uptrend and are ready to take advantage of the market’s favorable moves.

Uniswap could rise 12.33% to $8.47 by April 21st

However, Changelly’s latest Uniswap price prediction is also optimistic. Analysts expect it to increase by 12.33%. According to this prediction, Uniswap could be worth $8.47 by April 21, 2024.

Changelly technical analysis suggests neutral bullish sentiment in the Uniswap market at 55%. Additionally, the Fear & Greed Index has a score of 66, suggesting that investors are prone to greedy behavior.

Cryptocurrency experts predict that the average rate of UNI will be $9.97 in April 2024, based on the predicted price movements observed in early 2023. The expected price spread ranges from a minimum of $9.81 to a maximum of $10.12. This means an estimated return on investment (ROI) of up to 27.4% for those looking to put money into Uniswap.

Related Books | CoinGecko announces Bitcoin halving has been successful for the fourth time

Related Article

0 Comments

Leave a Comment