Uniswap Price Prediction 2023: Can UNI Price Raise to $10?

Key Takeaways

• While the top 2 cryptos faced a massive downfall, Uniswap price displayed acute strength and is approaching the lost levels above $4.5
• The bulls have gained acute strength which may keep up the trend of the rally toward the north
• A huge rise in user activity may keep up the bullish trend of the token and reach the desired target in the next few days

Uniswap Overview as of 15 June 2023

UNI Price Forecast for this Week

During the previous week, the Uniswap price fell below critical support and made lows of around $3.74. However, the price quickly regained bullish momentum and surged to trade above $4.3 at the moment. The current price trend appears to be bullish, as the buying pressure has intensified to a large extent. Hence, this implies that a significant upswing is on the way, 

After breaking down from the descending parallel channel, the UNI price surged by more than 20% and is currently facing a minor bearish action. The price is consolidating within a narrow region but appears to be self-assured of remaining above the gained levels. Therefore, the Uniswap price prediction for the week is slightly bullish with the levels rising above $4.6 by the end. 

Uniswap Price Prediction for June 2023

Ever since the beginning of the month, the UNI price has consolidated within a descending trend. The price is now recovering from the recent drop and is believed to regain lost levels above $5 very soon. Further, the upcoming fortnight is believed to be largely bullish as the bears are drained up, trying to pull the price lower. In such cases, a significant upswing may keep the trend elevated. 

Initially, the price may secure levels above $5 and further reach levels close to $5.5. If the bulls manage to withstand bearish actions, then the price may further rise to test the interim resistance at $5.79. Clearing these levels may lift the price above $6, while an extended bullish action may elevate the price above $6.2 by the end of the month. 

Uniswap Price Prediction 2023-2024

The bulls are believed to maintain a healthy upswing during the second half of 2023 as market conditions are also believed to ease. However, the bulls may not utilize all their consolidated strength but may successfully hold the price above the crucial support. Further, with the beginning of the fourth quarter, the UNI price is believed to trigger a fine upswing that may close the yearly trade on a bullish note.

The 2024 trade is also believed to begin with a fine upswing with the aim of securing a double-digit figure at the earliest. However, the bulls may encounter tough resistance at $7.99, wherein the price has faced multiple rejections here. Hence, a minor pullback could trigger a notable upswing which may secure levels close to $14 to $16. 

UNI Price Prediction 2023-2050 

Uniswap Technical Analysis

Source: Tradingview

• The Uniswap price is trading within a huge falling wedge and just rebounded from the lower support
• The price is heading toward the upper resistance and hence may land up in a decisive phase
• If the bulls manage to push the prices up, then they may rise to test the upper resistance at $5.79, else a rejection may compel the price to test the lower support that may trigger a fine upswing beyond the resistance
• The RSI, with the latest bearish action, is closer to validating a bearish divergence which suggests the price may trigger a minor pullback
• As the ADX is not completely bullish or bearish, a consolidated trend may prevail for some time ahead. 

Will Uniswap Price Drop Again in 2023?

Uniswap price has been displaying acute strength and has been trading close to crucial resistance. Therefore, the price has a possibility to undergo a notable upswing, even though bears may mark their presence every now and then. Hence, the UNI price is believed to maintain a decent upswing and secure levels above $10 in the coming days ahead. 

Uniswap On-Chain Analysis Overview

Uniswap Daily Active Address

Source: Coinmetrics.io

• The active address count is the number of addresses interacting with the platform to perform a trade, regardless of whether they are a buy, a sell, or a swap
• The rise and drop in these levels directly impact the price as they indicate the user activity over the platform
• The active address count has been displaying a couple of sudden spikes after remaining around the ground levels for a longer time
• Therefore, the increased user activity may eventually rise the UNI price to new highs in the coming days

Uniswap Supply in Top 100 Addresses

Source: Coinmetrics.io

• The supply in the top 100 addresses can also be considered as Whale addresses as they hold nearly 1% of the total circulation
• The variation in these levels may not directly impact the value of the token but may influence the market sentiments in the long term
• The levels had been marking highs frequently but in the past few days, a huge drop has been recorded
• It signifies that the supply in these addresses has dropped significantly which is not a positive sign for the crypto in the long term.

Futures Trading on the CoinDCX app!

Crypto future trading has been gaining mainstream attention in recent times as it offers lucrative profits but also carries significant risks too. However, future trading with CoinDCX has become more simple and safe. One can utilize various features like deeper liquidity markets, cutting-edge tools, upto 20 x leverage, low entry barrier, low fees, etc, and many more. Therefore, download the CoinDCX app on your smartphone and register now.

FAQS