The price of the Uniswap token, UNI, becomes one of the best performers in this bullish day for altcoins. Within a period of 24 hours, the coin of the popular decentralized exchange shows a performance of +22% and everything indicates that it will continue to rise.
Within a week, the token reflects a rise of close to 50%, which generates excitement and at the same time concern. At the time of writing, the price of UNI is $12.76, according to CoinMarketCap. Although the DEX is going through an interesting process of transformations, they are not the exclusive origin of the current rise in UNI.
Consequently, much of the bullish momentum has speculative components, suggesting that a correction is on the horizon. For investors, it is crucially important to know what the time or magnitude limit of UNI’s current bullish trend will be. It is important to keep in mind that these types of strong increases are not usually sustained for a long time.
With respect to this last point, another question arises and that is what will happen after the eventual correction. Is it possible for Uniswap (UNI) price to reach $20? In this work we try to find some clues to have an approximate answer to this question.
The Uniswap token, UNI, is one of the best performers in recent hours. Source: CoinMarketCap
What to expect from Uniswap price going forward?
The short answer to the question of whether UNI will reach $20 is a definite yes. However, the conditions and date of that event are not entirely clear. It is possible that a correction will ruin this possibility in the short term, but reaching $20 in the future is inevitable. Without needing to do much digging, it can be said that 2025 could be that date.
Even for analysts, the possibility of reaching new historical highs cannot be ruled out, although the probabilities of this now seem distant. UNI’s ATH dates back to May 2021, when its price briefly touched $44.68 per token. Meanwhile, its lowest point since then was in August of this year, when it fell below $6.
From the point of view of technical analysis, the forecasts are remarkably positive. In general terms, the sentiment is completely bullish, with an expected rise of 90% of the market. Meanwhile, the fear and greed index points to 73, which means that there is high greed. Out of 30 technical analysis indicators, 27 point towards the price rise of Uniswap (UNI).
According to this data based on historical behavior, the price of UNI will return to $20 on December 16. Meanwhile, within months, the currency would have an exchange value of $5.4 dollars per unit. It is worth clarifying that these forecasts are based on technical analysis, which means they could be completely inaccurate.
Disclaimer: This work is for informational purposes only and should under no circumstances be taken as an invitation or investment advice. Cryptocurrencies are highly volatile assets and placing capital in them can lead to total losses.
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