Uniswap price is on a tear as investors prepare for new all-time highs

Uniswap price has practically hit a new all-time high at $7.13 after a massive breakout.
The digital asset faces little resistance to the upside as whales continue to accumulate.

Uniswap price is up by 62% in the past four days after defending a crucial support level on the daily chart at $5. It seems that large holders continue to accumulate the digital asset and are eying up a new all-time high.

Uniswap price targets $10 in the long-run after massive breakout

On the daily chart, Uniswap has managed to crack all the resistance levels and established a new all-time high at $7.13. Using the Fibonacci retracement indicator we can determine potential bullish price targets in the future.

UNI/USD daily chart

The daily chart suggests that Uniswap could rise towards the 141% Fibonacci level at $8.47 before a brief retrace to the 127% at $7.91, followed by the last push towards the 200% level at $10.783.

UNI Holders Distribution chart

The number of whales has increased significantly since the beginning of 2021, which indicates investors are extremely interested in Uniswap despite the price rising. The number of large holders with 100,000 to 1,000,000 coins has increased by 13.

UNI IOMAP chart

However, despite facing no resistance ahead, the In/Out of the Money Around Price (IOMAP) chart also shows very little support downwards. Any rejection from current levels can quickly drive Uniswap price down to the most significant support area between $5.68 and $5.77.

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.