Uniswap Price Prediction: UNI is on the verge of an 18% upswing to new all-time highs

  • Uniswap price is breaking out of a bullish consolidation pattern, hinting at new all-time highs.
  • UNI bulls ignore the bearish indications provided by on-chain metrics.
  • FOMO seems to kick in as the token hints at an 18% surge despite the 320% year-to-date gains.

Uniswap price and its decentralized exchange platform have seen a stark rise in popularity even after last year's DeFi summer. The token now shows signs of continuing the ongoing rally even after it experienced an exponential  300% increase over the past month.

Uniswap price aims for higher highs 

Uniswap price has been consolidating in an ascending triangle over the past week. Such technical formation is considered a continuation pattern as it tends to lead to further development of the previous trend. 

Therefore, the recent break of the triangle’s x-axis at $20.90 could push Uniswap price by more than 18%. If this were to happen, UNI’s market value would march towards a new all-time high of nearly $25. 

This target is determined by measuring the distance of the triangle’s y-axis.

UNI/USDT 1-hour chart

UNI/USDT 1-hour chart

On-chain metrics suggest a rather bearish outlook for the utility token. 

Uniswap's holders distribution chart shows that addresses with 10,000 to 100,000 UNI have constantly been reallocating or selling the tokens since late January. A similar trend can be observed with those addresses that hold between 100,000 and 1,000,000 UNI. 

This behavior in whales’ activity suggests that some high net worth individuals are booking profits at the current price levels. Consequently, increasing the downward pressure behind Uniswap price.

Uniswap Holder Distribution chart

Uniswap Holder Distribution chart

For this reason, investors need to pay attention to the $19.50 support level. If this price hurdle fails to hold, the bullish thesis will be invalidated, triggering an 18% retracement to $16.

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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

Since XRPArmy and lawyers in the crypto ecosystem consider the US Securities & and Exchange Commission’s (SEC) move to pull documents out of public view as evidence that the case is coming to a close, a Ripple win appears more likely.

More Ripple news

Bitcoin Weekly Forecast: BTC must hold $45K to target new all-time highs

Bitcoin price is on a rollercoaster ride as it crashed violently on September 7, consolidated for a few days after that and went on an uptrend to undo the losses. Over the past 24 hours, however, BTC seems to be consolidating for a volatile move without a clear directional bias.

More Bitcoin News

Chiliz price to retrace before CHZ runs up

Chiliz price is stuck in a tight consolidation above a crucial support floor and shows no signs of recovering from this slump. In fact, CHZ might retrace lower before heading on an uptrend.

More Chiliz News

ICX Price Prediction: ICON prepares for 20% descent as bulls fade away

ICON price looks ready for a swift downswing after an explosive run over the past ten days. The crypto markets’ slowdown after the recent run-up makes this bearish scenario a perfect fit. Going forward, investors can expect ICX to head lower and retest stable support barriers.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast