Uniswap price prediction now includes a bold $100 target. Standard Chartered analyst Geoffrey Kendrick sees the Binance hack as a catalyst. He believes users may shift from centralized to decentralized exchanges.
Why the Uniswap price prediction matters
UNI is down 3% today, October 30. It trades at $7.08 at the time of writing. The drop mirrors the broader crypto market. Bitcoin fell below $78,000. Ethereum dropped below $2,300. Both moves followed the $6.3 billion Binance theft.
The Binance hack is the largest in crypto history. However, Kendrick argues it could push UNI toward $100 by 2030. He points to a key trend. Specifically, decentralized exchanges have never suffered a major exploit. Therefore, the DEX-to-CEX trading ratio should keep rising.
Standard Chartered previously predicted DeFi deposits would reach $2.7 trillion by 2030. The bank says Uniswap will likely capture the biggest share. Its liquidity pools could see 37 times growth in assets.
Futures volumes soar 200% as price tests support
CoinGlass data shows Uniswap futures volume jumped 221% on October 30. It reached $1.45 billion. That is up from $388 million on October 29. This was the highest level since September 24.
The jump coincided with UNI dropping to $6.40 support. That was the first test since mid-September. However, open interest fell from $604 million to $587 million. Therefore, the volume spike likely came from liquidations, not new positions.
CoinGlass recorded $10 million in long liquidations within two days. Long liquidations increase selling pressure. They push the price lower. The declining open interest also suggests Standard Chartered’s bullish call has not boosted futures demand.
Uniswap price prediction: bulls defend $6.40 support
The daily chart shows UNI holding above $7. This level is critical. If UNI closes below $6.40, a bearish move could follow. The next support sits at $5.90. A break below that could push Uniswap toward $4.43.
Conversely, if bulls defend $6.40, the next target is $7.50. A close above that resistance would confirm a bullish outlook.
The CMF reading is 0.01. That shows buying pressure slightly outpaces selling pressure on the daily timeframe. However, the RSI remains below 50 in bearish territory.
On the four-hour chart, bears may be losing grip. The RSI is making higher lows. It is nearing a crossover above its signal line. A confirmed crossover could push price to $7.43 resistance.
Bollinger Bands are widening on the four-hour chart. This suggests rising volatility. Lower timeframe support sits at the lower band of $6.62. The middle band at $7 acts as immediate resistance.
Key levels to watch
Support sits at $6.40 and $5.90. Resistance sits at $7.50 and $7.43 on the four-hour chart. A break below $6.40 could target $4.43. A close above $7.50 would confirm a bullish reversal.