Uniswap Price Prediction: UNI poised for a profitable rebound


  • Uniswap price has risen by 15% since the start of the new year. 
  • The next target zone for UNI lies 12% above the current market value.
  • A breach below $5 would invalidate the uptrend potential.

Uniswap price is worth keeping on investors’ watch lists if they are looking for a swing trade. The bullish cues displayed as of late could be the start of a much larger move. Day traders may also find profitable opportunities within the trend.

Uniswap price poised for gains

Uniswap price rose by 15% since January 1, establishing a pivot high at $5.96 before profit-taking traders and bears entered the market. As the price consolidates, the next move for the UNI token could define the trend for weeks to come.

Uniswap price currently auctions at $5.63. Throughout 2022, the UNI price ricocheted back and forth between the boundaries of a descending parallel channel. On December 28, the bulls subtly crossed back over the parallel channels’ median line on the daily time zone. The hurdle was a bullish cue for classical technical analysis technicians to go long and the catalyst for the 15% spike witnessed recently.

If the market is genuinely bullish, the next target will be the upper bounds of the parallel channel and potentially a breakout past the barrier. The first target creates the potential for a 12% upswing from the current Uniswap price. If bulls can sustain momentum near the first target zone at around $6.30, UNI would present a swing trade opportunity targeting $10 at some point in 2023. 

tm/uni/1/11/22

UNI/USDT 1-day chart

The short-term target has an invalidation point below the 8-day exponential moving average (EMA), currently priced at $5.58. The longer-term swing trade idea targeting $10 depends on the median line of the parallel channel remaining untagged. Currently, the uptrend’s invalidation point is priced at $5. 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP