After months of low activity, Uniswap (UNI) has finally gained traction, experiencing a 35% rally over the past 24 hours. This surge signals renewed optimism and hints at a potential push beyond the $10 mark, bringing a fresh wave of interest in the altcoin.
Positive Sentiment Boosts Uniswap Liquidity
The majority of Uniswap’s daily on-chain transactions are currently profitable, maintaining positive investor sentiment. This profitable streak has supported consistent trading activity, which in turn has bolstered Uniswap’s liquidity. High liquidity creates a more stable environment for investors, making UNI more attractive as a potential investment.
Indicators Point to Strong Growth Potential
Technical indicators for Uniswap are also pointing toward future growth. Uniswap’s Exponential Moving Averages (EMAs) have shown signs of a potential “Golden Cross.” Three months ago, UNI’s 50-day EMA fell below its 200-day EMA, forming a “Death Cross” and signaling a bearish trend. Now, the recent rally has narrowed this gap, bringing the EMAs closer and potentially setting up a Golden Cross, a traditional indicator of an uptrend.
UNI Price Prediction: Will $10 Become the Next Support?
Uniswap’s current price of $9.19, bolstered by this latest rally, has allowed it to reclaim the $9.09 support level. Holding this level could pave the way for UNI to push higher, with $10.06 as the next resistance. Successfully surpassing $10 could establish it as a new support level, signaling a firm bullish trend and attracting further investment.
However, if UNI fails to maintain the $9.09 support level, the price could slip back to $8.23. Such a drop might indicate that consolidation is needed before the next rally attempt, with the possibility of testing higher levels in the future.
In summary, Uniswap’s recent price surge has reignited investor interest. With promising technical indicators, UNI could soon break through the $10 mark if it maintains its current momentum.
