The Uniswap coin witnessed an impressive bull market back in 2020 and 2021. Its price increased from $1 all the way to $45, gaining around 4,000%. On the other hand, Uniswap price started its bear market back in November 2021, adjusting with the entire cryptocurrency market. With today’s bearish crypto outlook, UNI is expected to continue lower. However, a potential surge is expected once THIS happens. In this Uniswap price prediction article, we’re going to analyze Uniswap crypto from a technical perspective. When should you Buy Uniswap?
What is Uniswap Crypto?
Uniswap doubles as coin and a DEX built on the Ethereum blockchain. Its Blockchain is open source and allows anyone to view and contribute to it, while its token holders govern it. As a DEX, it enables users to perform peer-to-peer market making on its platform. Like every typical DEX, these transactions do not require the need for a third party or a broker. The elimination of such interference makes it cheaper to operate and useful for users. One unique feature of the platform is its deployment of an introductory numerical statement. This allows buyers and sellers to exchange assets without deciding costs and external parameters that may hinder them. The platform currently supports the exchange of any ERC-20 token or related which conforms to the Ethereum standard.
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Is Uniswap Price really going down?
UniSwap price was able to form a trend line during the recent descent which is heading towards the $5.69 support. As a result, we expect the UniSwap rate to fall to $5.69 before eventually rallying. It could be that the price will break the trend line after hitting the $5.69 support to then rally to $13.34. However, this is only in the most bullish case.
Uniswap Price Prediction – Will Uniswap go up soon?
If the UniSwap price falls to support, a descending wedge could form. This wedge just needs confirmation on the lower trendline. As soon as this happens we see a descending wedge on the chart. Descending wedges often causes prices to rise. Based on this, here too we anticipate that UniSwap price will rise once it hits the $5.69 support. The target would be around $13.34. This would trigger a surge of around 135%, so consider investing in UniSwap for the short term!