Uniswap (UNI) shows strength in recent days

79


Uniswap (UNI) has reported gains over the last three days in a row. This decent momentum has coincided with improved performance in the general market. It seems though like UNI still has enough momentum to go in the coming days. Here is what you need to know:

  • At press time, UNI was trading at $8.77, up around 5% in the last 24 hours.

  • The coin is expected to regain its crucial $9.4 support zone in the days ahead.

  • If this happens, UNI could go on a decent bull run with gains of at least 30%.

Data Source: Tradingview 

Uniswap (UNI) – Where the price could go

Over the last week, UNI has been trading between a very important range. While the coin has managed to stay above the $8.13 support, it has failed to overcome $9.4. In fact, UNI has been rejected at $9.4 several times. 

But the recent momentum could provide the much-needed run that finally converts $9.4 from resistance to support. After all, the coin has had three days of continuous gains. At press time, it was already up 5% for the last 24 hours. 

If bulls can regain the $9.4 resistance and manage to consolidate there by the end of the week, then UNI could trigger a bullish run that delivers at least 30% in gains. But if the coin falls below the current resistance of $8.13, this prediction will be voided.

Why buy Uniswap (UNI) today

Uniswap (UNI) is the main decentralized exchange of the Ethereum network. It is one of the biggest projects also in the DEX space with a market cap of nearly $6 billion. 

But more could still come from UNI. In fact, it was just the other day the coin was testing $20. It’s possible that it could return to those lofty heights in the medium term.



Source link