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  • Uniswap pauses for a slight breather before resuming an ascending path
  • DeFi exchange consistently gaining in popularity and adoption
  • Long term prospects for Uniswap remain extremely bullish

The Uniswap Price is continuing its bullish path from its July 20 low with an appreciation of almost 100% from the price level of $16 reached back then. UNI suffered a slight pullback on the 16 August when the price descended by about 3% from just over $30 to the $29.10 level. This did not make much of an effect on the overall picture and the DeFi exchange token is well on its way to retain the $30 level.

The unicorn themed DeFi exchange token has risen impressively over the past couple of weeks. On 4 August the Uniswap price was at around $21.30 whilst on 13 August, the price was at the $30.478 level which represents a gain of well over 40% in just 9 days. Although the positive sentiment surrounding the crypto market seems to have helped, renewed interest in the DeFi exchange token has undoubtedly spurred this price rally.

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Short Term Prediction For Uniswap Price: Slight Retracement Before Another Move Upwards

At present, apart from some coins such as Solana and Polkadot, the cryptocurrency market seems to be experiencing a slight retracement. This has also affected the Uniswap price which descended by around 3% on 16 August although the drop was much lower than in other cryptos.

A bullish thesis would have the Uniswap price rise over the $30 level and begin to tag the $32 mark. This would represent an almost 11% gain from the current price. However, it is more likely that UNI will continue to trade sideways for the present.

On the other hand, a bearish thesis would see the Uniswap price drop to the $25 level where there seems to be strong support. However, a sell off would quickly precipitate a fall to the $21 level which would be the 4 August price level. It all depends on the movements in the crypto market and if negative sentiment would once again hit price levels.

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Long Term Price Prediction For UNI: Bullish Expectations Although Possible Pitfalls Remain

Although the long-term price predictions for the Uniswap price remain bullish, there continue to be pitfalls ahead. With the Bitcoin price currently stuck in a tight trading range between the $45,500 and $47,000 levels, a move downwards could precipitate a sell off across the whole crypto market.

Crypto analysts have the Uniswap price at around the $50 level by the end of the year. This would mean an appreciation of around 60% from the current price and although possible, it seems unlikely. If the Uniswap price were to regain its all time high of $46 by end of year, that would certainly be a positive development.

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