CandleFocus Uniswap Price In Demand Zone: But Can it Reclaim $20 Mark?
2024-09-12
Author: Content Editor
The Uniswap (UNI) price has been struggling to sustain above $7 since 2022. However, in Q1 2024, the price broke through the $7 mark and tested the demand zone, experiencing slow and steady growth. The UNI token price has recently broken out from a descending channel and retested the breakout, gaining bullish momentum. If the price surpasses the 200-day EMA, it could reach $20. Crypto analyst Daniel Ramsey believes that buying UNI at current levels could be a good investment, with mid-term targets of $13.45 and long-term targets of $32.30 and $70.70. At the time of writing, the UNI price remained neutral, but there were indications of potential bullish momentum. However, the $8 mark should be closely monitored, as sellers have shown strength at that level in the past. The MACD has formed a bullish crossover, signaling a potential upward movement in price. Close monitoring of the market and price movements is necessary for informed decision-making.
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