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Uniswap price primed for 20% rally, leads altcoins in new bull run

  • Uniswap has taken the lead among altcoins as the price continues its uptrend.
  • Uniswap price continues posting gains in the ongoing bull run.
  • Analysts believe that the DeFi token is primed for a 20% price rally.
Uniswap price primed for 20% rally, leads altcoins in new bull run
Ekta MouryaEkta MouryaFXStreet

The world’s third-largest decentralized exchange has witnessed a spike in growth and market capitalization. Uniswap is leading the altcoin rally, gearing up for a 20% gain in price. 

Uniswap price is ready for a 20% rally

Uniswap, one of the largest decentralized exchanges, has clocked in over $712 billion in trade volume in 2021. The exchange has witnessed a nearly ten times increase in market capitalization. With massive growth, experts have noted a spike in Uniswap on-chain activity. 

Hayden Adams, the creator of Uniswap, believes that the decentralized exchange will, 

Cross $1 trillion in cumulative volume with just its current 1-2m users.

Uniswap is leading altcoins in the ongoing bull run, posting over 25% gains over the past two weeks. The native token of the decentralized exchange has continued its uptrend since January 1, 2022. 

Crypto intelligence platform IntoTheBlock observed a price rally in DeFi blue chips like Uniswap. According to crypto data platform Crypto Cap Flow data, there is a spike in open interest in Uniswap futures, hitting $102.89 million. Increasing open interest is considered a sign of rising investor interest and demand for Uniswap. 

@BullishTraderss, a pseudonymous crypto analyst and trader, has predicted that Uniswap could preserve its uptrend; the next resistance for the token is at $23. Uniswap is looking to breakout resistance in the Bitcoin and USDT pairs. 

FXStreet analysts have evaluated the Uniswap price trend and predicted that the native token of the decentralized exchange is close to starting a new uptrend towards $60. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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