Uniswap crypto performed well on Friday and managed to gain nearly 4% by the end of the session end, recovering the previous day’s losses. However, the overall gains were limited as the recovery was not enough to put the price back in the bullish territory.
Earlier, UNI crypto turned around after peaking near the round level of $8 and dropped sharply. The price fell directly below the 20 and 50-Day EMAs without getting any major support. Thereafter, buyers showed some interest and the price received a short upthrust.
However, the volume inflow was not enough to put the price back on track and slumped again. The bears seeing the price in a discounted zone made an aggressive short position which dragged the price near the 200-Day EMA.
At the time of writing, the Uniswap crypto was at $5.90 with an intraday drop of 0.78%. Today, both the bulls and bears were struggling to dominate. The bulls are trying to resume yesterday’s gains while the bears are trying to make a comeback again to drag the price lower.
Uniswap Crypto Price Action Analysis
Moreover, looking at the data for the past two to three months. It is observed that the Uniswap price has shown significant bullish moves in the period. The crypto has risen from a low of $3.9 in October 2023 to a peak value of $8.2 in the last week of December 2023.
The crypto gained a total of 110% value between October and December 2023 which includes earlier losses recovery and further gains. However, despite gaining over 10%, the crypto remained significantly lower than its all time high value ($44).
The technical analysis and the price forecast suggest that the crypto will remain in a sideways range until it rises above the 200-Day EMA and is stays below the 50-Day EMA. Any breakout above the 50-Day EMA may again put the price back in bullish territory and it may resume to surge higher.
The break-down below the 200-Day EMA may signal a trend reversal post which the price may keep on digging lower in the long term.
Uniswap Price Prediction January 2024
The most optimistic view of analysts estimates that the UNI crypto may attain a high of $6.28 by the end of January 2024. However, the pessimistic aspect of analysts suggests that the price could drop below the 200-Day EMA.
Uniswap Crypto Price Prediction 2024
The price forecast for the year 2024 is that the UNI token price could reach a high of $8.911, suggesting a potential gain of over 49.60% if the most positive conditions prevail. Moreover, the bearish outlook of the analysts hopes the price could reach $7.76 by the year-end.
Uniswap Price Prediction 2025
By the year 2025, the Uniswap price may attain $11.16 as the highest price on the positive side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $8.53.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/01/27/uniswap-crypto-retraces-200-day-ema-bearish-days-started-for-uni/