Uniswap Price Prediction 2021 – Will UNI Hit $50 Soon?

Bearish UNI price prediction ranges from $23.43 to $30.
UNI prices might also reach $50 soon.
UNI bearish market price prediction for 2021 is $16.12.

In Uniswap (UNI) price prediction 2021, we use statistics, price patterns, RSI, and much other information about UNI to analyze the future movement of the cryptocurrency.

A leading decentralized exchange that runs on the Ethereum blockchain is Uniswap. Uniswap is not owned by a single entity. Uniswap is created in the year 2018 on top of the Ethereum blockchain.

Moreover, UNI is the Uniswaps native token. UNI gives holders the right to vote on new developments and changes to the platform. The UNI token is created in 2020.

According to CoinGecko, the UNI price is trading at $18.23 with a 24-hour trading volume of $399,327,082 at the time of writing. However, UNI has decreased by 8.3% in the last 24 hours.

Moreover, UNI has a circulating supply of 575,171,205.73 UNI. Currently, UNI trades in Binance, OKEx, and Coinbase Pro.

Uniswap (UNI) Price Prediction 2021

Uniswap (UNI) holds the 11^thposition on CoinGecko right now. UNI price prediction 2021 explained below with a daily time frame.

UNI/USDT Falling Wedge Pattern(Source: TradingView)

The above chart shows a falling wedge pattern. This pattern is formed when the market makes lower lows and lower highs with the contracting range. This pattern is considered a bullish chart formation but can indicate both reversal and continuation patterns.

In the daily time frame chart, if the price of the UNI breaks the resistance level of $20.58, it will reach the target of $41.27. Or else, if the price of the UNI breaks the support level of $14 means it will fall to the next support level at $12.90. So, the trend of the UNI is based on the breakout.

UNI Support and Resistance Level.

The below chart shows the support and resistance level of UNI.

UNI/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support levels of UNI.

Resistance Level 1 – $23.43
Resistance Level 2 – $30.00
Resistance Level 3 – $38.20
Support Level 1 – $16.12
Support Level 2 – $13.85

The charts show the UNI has performed a bearish trend over the past month. If this trend continues, the price of UNI might plummet to almost $16.12, a bearish signal.

Conversely, if the investors focus on UNI then it might run along with the bulls overtakes its resistance level at $38.20

Uniswap (UNI) Average Directional Index (ADX)

Now let’s look at the Average Directional Index (ADX) of UNI. Generally, the Average Directional Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to identify whether the market is changing or a new trend is starting. It is associated with Directional Movement Index (DMI) and includes the ADX line.

The oscillator range from 0 to 100. The strong trend and weak trend are indicated by high value and low value. It is often combined with directional indicators.

UNI/USDT ADX(Source: TradingView)

The above chart shows the ADX of UNI stays above the range of 18.878, so it indicates a sideways trend.

Conclusion

The UNI is one of the cryptos that keep its ground against the bullish market. Furthermore, our long-term UNI price prediction for 2021 is bearish.

Furthermore, with the ongoing development and upgrade within the UNI ecosystem, it could experience a great future ahead in 2021. It may reach $38.20 soon and it might even reach high heights, however reaching $50, if investors have planned that UNI is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely the author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

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