Search ForexCrunch
  • 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.

If you haven’t yet bought some crypto then you should take a look at this How To Buy Cryptocurrency Beginner’s Guide.

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.

If you want to try your luck in the cryptocurrency market, then have a look at these Top Cryptocurrency Brokers.

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.

Looking to buy or trade Uniswap now? Invest at eToro!

Capital at risk

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.