HomeLatest NewsUniswap (UNI) sees price consolidation with a 20% upswing now possible

Uniswap (UNI) sees price consolidation with a 20% upswing now possible

Uniswap (UNI) is starting to see some price consolidation after the tempestuous last few days. The coin in fact looks poised for an uptrend that could deliver a 20% upswing in the near term. As sentiment in the market improves, we could see a sustained UNI bullish breakout albeit there are still some risks. Here are some key highlights:

  • Over the last few days, Uniswap (UNI) has been consolidating around its $14 weekly support, suggesting it could breakout.

  • The token has also managed to recover some of the losses reported last week during the market-wide crypto slump.

  • We expect UNI to retest the $18 mark, something that could deliver an upside of 20% in the coming days.

Data Source: Tradingview.com 

Uniswap (UNI) – Price prediction and analysis

Over the last few days, we have seen Uniswap (UNI) bounce off its $14 weekly support. The coin is strongly consolidating around this price, and while we are yet to see a decisive breakout, it is likely going to happen within days. 

In fact, at the time of writing, Uniswap (UNI) had surged past the $16 mark albeit it was down about 1% in 24 hours. The next rally is likely to push the coin above $18 and could easily break into $19 territory as a result. 

For this reason, investors are looking at a possible upswing of at least 20%. Despite this, UNI must hold above the weekly support of $14 for any decent uptrend to occur.

Should you buy Uniswap (UNI)

The answer is yes. Uniswap (UNI) is a decent crypto asset and a good bet for long-term investors. But even for short-term speculative traders, UNI appears well on course towards decent gains in the near term. You could enter right now and ride the wave to $18 before locking in profits.

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