$UNI Tops Gainers List Amid Recovery: Will The Rise Sustain?

Uniswap on Saturday led the gainers list with an over 11% jump in the price. The price rise came against pressured crypto markets with most coins trading in the red territory. Investors are now looking forward to further gains from the token, given the positive technical indicators for the coin.

$UNI Trades In Green Contrary To Market

UNI, the native cryptocurrency of Uniswap, has proven resilient and defied market trends, even in the face of significant consolidation in the broader cryptocurrency market. Uniswap’s formation of a golden cross pattern on the charts, which denotes a bullish trend reversal, adds credence to this optimistic outlook.

At the press time, the coin is trading at $11.45, being up over 11% as compared to the same time last day. With UNI’s Relative Strength Index (RSI) at 52.68, it is not overbought or oversold, allowing for more price fluctuations.

Will $UNI Rise Further?

UNI’s current price rise has raised questions if the token will continue the momentum in the future as well. The coin has seen a drop in prices in April, before gearing up for a surge.

A bullish reversal in Uniswap’s price indicates a change in investor interest in these cryptocurrencies. Notable price fluctuations have occurred recently for the Uniswap coin, which has also been extremely volatile. The altcoin’s price rose by 9.26% over the past day despite a 30.68% decline in trading volume. This suggests an increasing level of optimism.

Should the market continue to gain strength, UNI may test its channel pattern’s resistance trend line. In the upcoming week, Uniswap may be able to break over the upper resistance level of $13.510.

Uniswap price projection by July 15, 2024, suggests an increase of 235.10% to $ 39.07. The Fear & Greed Index is currently reading 74 (Greed), indicating a bullish attitude based on analysts’ views. Uniswap experienced 11.41% price volatility over the previous 30 days and 15/30 (or 50%) green days.

As of now, Uniswap’s price is expected to rise to as much as $56.44 in the upcoming year. Uniswap’s utility as a decentralized exchange token is expected to be improved by a favorable legal environment for cryptocurrencies and further expansion in the technology sector.