Uniswap (UNI) is currently trading at approximately $6.20, reflecting a slight decline of 0.35% over the past 24 hours. The price has experienced fluctuations, with an intraday high of $6.55 and a low of $5.97. Uniswap is the biggest DEX and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.
In this article, we will look at Uniswap crypto target by looking at price chart and technical analysis.
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UNISWAP Crypto Next Target
- Current Price: $6.20
- 24h Price Change: -0.35%
- 24h Range: $5.97 – $6.55
- Market Cap: Approximately $3.72 billion
- 24h Trading Volume: Approximately $316.7 million
- Circulating Supply: Approximately 600.4 million UNI
There are signs of bullish trend reversal: price broke out of Falling Wedge pattern, and broke above $7.00 resistance, making a Higher Low and Higher High (above prior swing high). Those are signs of Uptrend. Pullback to $6.00 support could be a swing trade entry opportunity with +15% upside potential back to $7.00 (PT1) or even $8.50 (PT2). Stop Loss at $5.40.
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~58 (neutral)
- MACD: Bullish crossover observed
- Support Levels: $5.89, $5.50
- Resistance Levels: $6.50, $6.80
- Current Trend: Sideways with potential for upward movement
📰 Latest Uniswap News & Developments
- 📈 Whale Accumulation
A significant purchase of 2.16 million UNI tokens by wallet ‘0xd41A’ between May 18 and May 22 indicates strong institutional confidence in Uniswap’s token. This accumulation has contributed to a 4.3% price increase to $6.13 and a 28% rise in trading volume to $112 million on May 22. - ⚖️ Legal Developments
Uniswap is currently facing a lawsuit from the Bancor Foundation over alleged patent violations. - 💰 Financial Stability
The Uniswap Foundation reports holding $95 million in assets and has allocated $115.1 million for operations, ensuring financial stability through January 2027.
📌 Summary
Uniswap is currently navigating a period of consolidation, with the price stabilizing around $6.20. Technical indicators suggest potential for upward movement, supported by significant whale accumulation and strong financial fundamentals.
👉 Short-Term Forecast: Neutral to slightly bullish, contingent on breaking above $6.50
📉 Risk Factor: Moderate – due to market volatility and ongoing legal proceedings
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