Uniswap Defies Market Trend, UNI Price Breakout Hints 30% Upside?
The post Uniswap Defies Market Trend, UNI Price Breakout Hints 30% Upside? appeared first on Coinpedia Fintech News
As the crypto market stabilizes, top altcoins have successfully regained momentum by adding significant value to their respective portfolio within a short period.
Following this, the Uniswap price records a jump of over 11% in the past seven days. With this, questions like Will UNI price hit $10 in 2024? and How high will Uniswap go? are constantly searched.
Dive in as, in this article, we have covered the market sentiments, price analysis, and potential short-term price targets of the Uniswap (UNI) crypto token for September.
UNI Coin Price On The Verge Of A Major Breakout?
Despite increased bearish sentiment in the cryptocurrency market, the Uniswap price has displayed a positive price action by adding ~7% to its valuation during the past 30 days. This indicates an increase in the buying pressure for the altcoin in the market.
Moreover, it has formed a symmetric triangle pattern in its price chart and has continued trading within it since August. Notably, with a market capitalization of $3.975 billion, this altcoin has secured the 21st position in the global crypto list.
Uniswap Market Sentiments
The Simple Moving Average (SMA) constantly supports the UNI price chart in the 1D time frame. This indicates a strong bullish sentiment for the altcoin in the crypto market.
Further, the MACD indicator has displayed a constant rise in the green histogram with its averages experiencing a positive crossover. This suggests that the Uniswap crypto may continue gaining value this week.
Is UNI Coin Still A Good Investment?
If the market continues to trade under a bullish influence, Uniswap crypto will test its resistance trendline of the symmetric triangle pattern. A breakout could result in it pushing its value toward its upper resistance level of $9.550 in the coming time.
On the flip side, if the bears overpowered the bulls, the altcoin will retest its crucial support trendline of $5.725. Further, if the bears continue to gain momentum, this could result in the price of Uniswap plunging toward a new yearly low.
Concerned about UNIs future? Read our in-depth Uniswap (UNI) Price Prediction for a peak into the future!
Read more: https://coinpedia.org/price-analysis/uniswap-defies-market-trend-uni-price-breakout-hints-30-upside/
Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
