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  • The Uniswap Price has retreated by 8% over the past days after reaching a bi-monthly high of $31
  • Pullback seems to be temporary as UNI accumulates to bounce over the $30 mark again
  • Regulation once again on the cards with Fed Chair Jerome Powell interview

After having reached an impressive bi-monthly high of $31 on 1 September, the Uniswap price experienced an 8% decline to the $29.50 mark today. Although the drop seems to be sharp, the bullish tendency is still there with UNI having appreciated no less than 20% since its drop on 26 August.

Crypto regulation seems once again to be the talk of the town these days. The recent interview by Fed Chair Jerome Powell once again reiterated his view that this asset class should be regulated.

In the interview he said that while he was “technology neutral”, crypto assets were no different than any others when it came to public policy requirements including investor protection, guarding against illicit activity and maintaining financial stability.

All this may be slightly ominous for the crypto markets in the short term, but overall, more regulation should strip out bad actors.

DeFi exchanges such as Uniswap certainly have their work cut out for them in the choppy investor market but overall, the Uniswap price has reacted positively to regulation news

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Short Term Prediction For Uniswap Price: A brief pullback before resuming upward trend

The Uniswap price has seen a more than 100% gain since its lowest level on July 20 where it touched the $14.37 mark. In fact, UNI went up by 110% from that swing low and the current price of $29.50 is still more than 100% above the July 20 level.

If a bullish thesis were to persist, the Uniswap price would be quick to revisit the $30 level from where it would probably appreciate by another 10% to the $33 mark. If that level breaks, then UNI would probably target the $39 level which would mean a 25% increase from the current price.

If a bearish thesis were to come into play, then the Uniswap price would continue its descent to the $26 level where there is considerable support. If a sell off ensues, then the price would probably drop further although the support line at this level seems quite strong.

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Long Term Prediction For UNI: More ATH’s Expected

The Uniswap price is expected to continue appreciating slowly until it reaches another all time high that supersedes the $45 level registered in March. Analysts have the price reaching the $50 level by the end of the year which would be an 80% appreciation from the current price level.

The continued spectre of crypto regulation could affect the Uniswap price but overall, more legitimacy should act as a boost to markets.

Where to Buy Uniswap

If you want to purchase Ripple, you can do so on the following exchanges:
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Binance
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