- Bullish UNI price prediction for 2023 is $5.216 to $7.627.
- Uniswap (UNI) price might reach $10 soon.
- Bearish UNI price prediction for 2023 is $2.943.
In this Uniswap (UNI) price prediction 2023, we will analyze the price patterns of UNI by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency.
Uniswap (UNI) Current Market Status
| Current Price | $4.32 |
| 24 – Hour Trading Volume | $155,976,3 |
| 24 – Hour Price Change | 2.91% down |
| Circulating Supply | 577,501,03 |
| All – Time High | $44.92 (On May 03, 2021) |
UNI Current Market Status (Source: CoinMarketCap)
What is Uniswap (UNI)?
Uniswap (UNI) is the governance token of Uniswap, one of the fully decentralized exchanges. Uniswap is a decentralized exchange protocol existing on Ethereum. It equips the Ethereum network with automated market makers (AMMs) and thereby enhances the ease of swapping ERC-20 tokens.
UNI was launched as an ERC-20 token in 2020. Uniswap (UNI) grants voting rights to the users for participating in the governance proposals of Uniswap.
Uniswap platform enables permissionless listing of ERC-20 tokens. Any listed ERC-20 token gets its own exchange smart contract and liquidity pool on Uniswap. Users can trade ERC-20 tokens with ease and can also contribute to the liquidity pool. Liquidity providers (LPs) earn a 0.3% fee for contributing to the pool. The price of tokens on Uniswap is determined based on the supply and demand of the tokens held up in the pool.
Uniswap was launched in November 2018 and the subsequent upgraded iterations, V2 and V3 were launched in 2020 and 2021 respectively.
Uniswap (UNI) Price Prediction 2023
Uniswap (UNI) ranks 23rd on CoinMarketCap in terms of its market capitalization. The overview of the Uniswap price prediction for 2023 is explained below with a daily time frame.
UNI/USDT Descending Channel Pattern (Source: Tradingview)
In the above chart, Uniswap (UNI) laid out a descending channel pattern. Descending channel pattern also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
At the time of analysis, the price of Uniswap (UNI) was recorded at $4.485. If the pattern trend continues, then the price of UNI might reach the resistance levels of $5.210, $6.435 and $7.573. If the trend reverses, then the price of UNI may fall to the support of $3.979.
Uniswap (UNI) Support and Resistance Levels
The chart given below elucidates the possible resistance and support levels of Uniswap (UNI) in 2023.
UNI/USDT Support and Resistance Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as the resistance and support levels of Uniswap (UNI) for 2023.
| Resistance Level 1 | $5.216 |
| Resistance Level 2 | $7.627 |
| Support Level 1 | $3.768 |
| Support Level 2 | $2.943 |
As per the above analysis, if Uniswap’s (UNI) bulls take the lead, then it might hit and break through its resistance level of $7.627.
Conversely, if Uniswap’s (UNI) bears dominate the trend, the price of UNI might plunge to $2.943.
Uniswap (UNI) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Uniswap (UNI) are shown in the chart below.
UNI/USDT RVOL, MA, RSI (Source: Tradingview)
The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment.
At the time of analysis, the RVOL of Uniswap (UNI) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.
The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).
Notably, in the above chart, the UNI price lies below 50 MA (short-term), indicating its downward. Hence, UNI is in a bearish state. Although this is the current state, a trend reversal might occur.
Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state.
Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.
At the time of analysis, the RSI of UNI is at 38.93. Therefore, this indicates UNI is neither an overbought nor oversold state.
Uniswap (UNI) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Uniswap (UNI) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
UNI/USDT ADX, RVI (Source: TradingView)
To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.
According to the data on the above chart, the ADX of UNI lies in the range of 42.57 pointing out a very strong trend.
The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of UNI lies above 50, indicating high volatility.
Comparison of UNI with BTC, ETH
Let us now compare the price movements of Uniswap (UNI) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs UNI Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of UNI is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of UNI also increases or decreases respectively.
Uniswap (UNI) Price Prediction 2024-2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Uniswap (UNI) between 2024 and 2030.
Uniswap (UNI) Price Prediction 2024
If bulls dominate the price momentum and trend patterns, then Uniswap (UNI) might successfully test and surpass its resistance levels to hit $15 by 2024.
Uniswap (UNI) Price Prediction 2025
The significant upgrades in the Uniswap ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Uniswap (UNI) price to reach $20 by 2025.
Uniswap (UNI) Price Prediction 2026
If Uniswap (UNI) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $25.
Uniswap (UNI) Price Prediction 2027
If Uniswap (UNI) sustains major resistance levels and stands as a better investment option in the market, then UNI would rally to hit $30.
Uniswap (UNI) Price Prediction 2028
If Uniswap (UNI) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then UNI would hit $35 by 2028.
Uniswap (UNI) Price Prediction 2029
If investors flock in and continue to place their bets on Uniswap (UNI), then the crypto would witness major spikes. Hence, UNI might hit $40 by 2029.
Uniswap (UNI) Price Prediction 2030
By 2030, the UNI price might rally to $45 if the trend momentum aligns in favor of Uniswap. Furthermore, UNI would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI.
Conclusion
If Uniswap (UNI) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Uniswap (UNI) price prediction for 2023 is $7.627. Comparatively, the bearish Uniswap (UNI) price prediction for 2023 is $2.943.
If there is a positive elevation in the market momentum and investors’ sentiment, then Uniswap (UNI) might hit $10. Furthermore, with future upgrades and advancements in the Uniswap ecosystem, UNI might surpass its current all-time high (ATH) of $44.97 and mark its new ATH.
FAQ
1. What is Uniswap (UNI)?
Uniswap (UNI) is the governance token of Uniswap, a decentralized exchange protocol on Ethereum that facilitates the smooth swapping of ERC-20 tokens. UNI was launched in 2020.
2. Where can you buy Uniswap (UNI)?
Traders can trade Uniswap (UNI) on the following cryptocurrency exchanges such as Binance, OKX, Deepcoin, Bybit, and CoinW.
3. Will Uniswap (UNI) record a new ATH soon?
With the ongoing developments and upgrades within the Uniswap platform, Uniswap (UNI) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Uniswap (UNI)?
Uniswap (UNI) hit its current all-time high (ATH) of $44.97 on May 03, 2021.
5. What is the lowest price of Uniswap (UNI)?
According to CoinMarketCap, UNI hit its all-time low (ATL) of $0.419 on Sep 17, 2020.
6. Will Uniswap (UNI) hit $10?
If Uniswap (UNI) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $10 soon.
7. What will be the Uniswap (UNI) price by 2024?
Uniswap (UNI) price might reach $15 by 2024.
8. What will be the Uniswap (UNI) price by 2025?
Uniswap (UNI) price might reach $20 by 2025.
9. What will be the Uniswap (UNI) price by 2026?
Uniswap (UNI) price might reach $25 by 2026.
10. What will be the Uniswap (UNI) price by 2027?
Uniswap (UNI) price might reach $30 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
