The UNI price has recorded a strong bullish recovery by reclaiming its multi-month high. As per the latest on-chain sentiments, the Uniswap chain has experienced a 30.36% jump in its Total Value Locked (TVL) this month and has soared ~70% this year, highlighting strong fundamentals.
With the on-chain sentiments intensifying, will the Uniswap price record a new 52-week high soon? You are a few minutes away from finding out the short-term possibilities of the Uniswap (UNI) crypto token.
The Uniswap price has defied all the odds by maintaining its bullish price action. Notably, this altcoin has soared ~10% in 24 hours with a trading volume of $1.231 billion, a change of +108.08%.
Moreover, with a weekly surge of 46.69%, the UNI crypto token has breached its rising channel pattern in the daily time frame. Moreover, it has soared 61.56% during the last 30 days and has a Year-to-Date (YTD) return of 76.89%.
The Simple Moving Average (SMA) constantly supports the UNI coin price chart in the 1D time frame. This highlights a strong bullish sentiment for the altcoin in the market.
Further, the MACD indicator records a steady rise in the green histogram with its averages experiencing a similar price trend. This suggests a bullish outlook for the 22nd-largest crypto token.
If the bulls regain momentum, the UNI crypto token will retest its resistance level of $13.50 this week. Furthermore, if the bullish sentiment intensifies, this could result in it heading toward its upper resistance level of $15.650 during the coming time.
However, if the bears outrun the bulls, the Uniswap price will retest its support level of $11.475. Moreover, if the bearish sentiment intensifies, this could pull the price of this altcoin toward its lower support level of $10.
To find out answers to questions like “How high will Uniswap price go?” Read CoinPedia’s in-depth research article on Uniswap Price Prediction!
With a 24-hour trading volume of $1.231 billion, the UNI token is currently valued at $12.725.
For Uniswap to achieve this price target, it will require a jump of 685.85% in its current valuation.
If the bullish sentiment sustains, the UNI coin price could surpass the $50 mark with a potential high of $51.27.
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