Uniswap was one of the cryptos which descended considerably since reaching its peak in early May. In fact, the Uniswap price descended from a high of $43 on the 2 of May to a low of $14.40 on 30 May. There has been something of a rebound of late with the price rising to the $19.26 level yesterday although there has been a slight descent to the $17.69 mark today as a slight retracement gripped the markets.
Uniswap price short term prediction
As already indicated, the Uniswap price on crypto trading platforms and exchanges appears to be in a bullish mode having gained at least 25% from its low of 31 May. Although there also seems to be some bearish pressure, the price could be looking to establish a higher low from where it should begin a next leg up to the psychologically significant $20 mark.
Recent positive news of more partnerships for the UNiswap DEFI exchange could have a positive impact on the short-term price as well. Yesterday, Fetch.ai based in Cambridge announced a partnership with Uniswap and PancakeSwap (CAKE) which fights losses risk across the DeFi space.
Another positive piece of news that came out yesterday was the launching of a token swap feature between CoinMarketCap and Uniswap. CMC’s Ethereum based token pages will now include a swap icon. This enables users to connect a wallet and actually swap between ERC-20 tokens. The platform now supports wallets from MEtaMask, Coinbase, WalletConnect and Portis amongst others.
Although the crypto market had a torrid time of late, partnerships such as these only add to the positive aura surrounding the space and attract new investors in the DeFi markets which are continuing to boom.
Uniswap Long Term Prediction: $50 by end of year?
All long-term indicators for Uniswap seem to be extremely positive. The DeFi exchange coin may have peaked too soon when it touched the $45 mark in early May and its descent was equally quick and brutal. But as new buyers come into the market, the strength of the Uniswap token can only increase.
One has to remember that Uniswap was created in September 2020 and so is not yet a year old. It has seen incredible growth and continues to reward its investors handsomely. The growth from inception has been no less than 300% and even if it has lost in price, it is still up by 180% from September 2020.
Tradingbeasts are predicting that the Uniswap will continue fluctuating between a high of $46 and a low of $30 as at year end. The average price for 2021 is expected to be around $36. This is admittedly a pretty bullish forecast although there is room for growth at the current price of $17.90. The same site predicts a long term growth for Uniswap to touch the $70 mark for 2023.
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Gerald Fenech
