Uniswap Price Prediction: Will UNI Price Reversal March To $13?

With the short-term broader market recovery, the UNI token price shows an intraday reversal that could lead to a bigger trend reversal. As the hopes of a domino effect for a bull run in the coming weeks, the sideline traders anticipate a breakout. 

Will the short-term reversal and the potential market recovery ignite a massive price jump in Uniswap? So, will the UNI price prediction of $25 in 2024 hold true?

UNI Price Performance

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With the jump of 12.23%, the UNI price trend shows an overnight reversal, revealing a sudden surge in inflow. Currently, the altcoin trades at $9.841 with an intraday pullback of 2.19%. 

In the daily chart, the Uniswap price sustains above the 50D EMA but loses the $10 psychological mark. Further, the bullish engulfing candle fails to overpower the 13.19% drop a day prior. 

In the weekly chart, Uniswap showcases a long-coming resistance trendline, keeping the bullish growth under check. Currently, the UNI price shows a potential morning star forming at the 50W EMA. 

This pattern is generally known for resulting in a bullish reversal and could increase the chances of a trendline breakout. 

Technical Indicators:

MACD indicator: The MACD and signal lines in the weekly chart are preparing for a bullish crossover, bolstering the breakout chances. 

EMA: The bullish trend in the 50D and 200D EMA sustains the positive outlook for the altcoin and continues to provide dynamic support.

Will Uniswap Cross Above $13?

As per the Fibonacci levels, the Uniswap struggles to reach the 23.60% level at $13. Hence, the recovery rally must surpass the trendline and the Fibonacci level to ensure a long-term uptrend. Upon breakout, the rise in demand with a trend reversal could pump the UNI price to reach $23.23 or the 50% Fibonacci level. 

Conversely, if the price drops, then a retest of $7.921 is possible.