- The Uniswap price appears to be stable at $25 after suffering some losses recently
- UNI recovering to $26 After having Dropped 15% from 30 August
- General crypto market rout also affected the DeFi Exchange Coin
The Uniswap price has descended by about 15% from its bi monthly high of $30.89 on 13 August. Although the drop has not been as pronounced as in other cryptos, Uniswap’s gains were not as strong since the July 20 rise. Still there is some hope that losses have been stemmed for the moment.
The UNI descent this week started on 24 August with the price descending from $28.77 to $25.53 or almost 10%. There was a recovery of sorts over the past 24 hours with the Uniswap price once again approaching the $26 level. However, the current muted state of the crypto market seems to have gripped most coins as the mood seems quite bearish overall.
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Short Term Uniswap Price Prediction: Consolidation Before Another Move Forward?
At present, the Uniswap price appears to be in a state of flux with support at the $25 level. If a bounce back occurs, then UNI might as well regain the $30 level if buying sentiment improves.
However, the cryptocurrency market appears to be caught in the doldrums of a bearish mood. Bitcoin has struggled to keep its momentum and many other altcoins have lost their recent gains with some plunging by double digits.
If a bullish thesis were to take hold, the Uniswap price should climb by around 10% to the $29 level after which it would be making a beeline for the $30 mark. Rejection at this level would be likely and there needs to be a considerable shift in market sentiment for this development to occur.
A bearish thesis is much more probable in the current scenario. If this were to happen, the Uniswap price would lose the $25 support level and continue descending where it should find meaningful support at $22. That would represent a descent of around 15% from the current price.
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Long Term Prediction For UNI: Still Bullish Although Longer Recovery May Be On The Cards
After having started an impressive recovery since July 20 when the Uniswap price was just at $14.60, it is reasonable the the DeFi exchange crypto paused for some breath. Overall predictions are still bullish with some end of year predictions having it hit the $50 mark again.
The current retracement in the crypto market only seems to be a temporary affair. Long term, Uniswap is up by around 80% from its July 20 low and if it traces another similar path, it should be at over the $40 level by the end of September. Much depends on the crypto market performance as a whole.
Where to Buy UNISWAP
If you want to purchase UNiswap, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy Uniswap is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.
Looking to buy or trade Uniswap now? Invest at eToro!
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Gerald Fenech
