Uniswap v3 and EIP-1559 among Triggers for UNI/USD to Reach $300
Crypto is perhaps the most fluid—idea-wise, rightly carving a share of the multi-trillion global market share. The sphere represents innovation and evolution.
A prime example being trading. In the early stages of crypto, centralized exchanges were supreme.
They still are—but a few years down the line, trustless ramps like Uniswap would dominate.
Talking of Uniswap, its governance token, UNI, launched less than seven months ago, is one of the top performers.
Week-to-date, the token is up double digits and triple digits in the past three months.
Accordingly, UNI/USDT performance and Uniswap price predictions have been topping crypto forums in the past week.
The next Target is $50 for Uniswap Bulls
Traders are bullish, especially when UNI/USDT clipped past $40, charting new highs. For this, there is a spike in Uniswap price prediction, especially in Trading View.
Take, for example, Profittraders23, he was quaint, predicting UNI to reach $50.
And his screenshot was straight to the point and uncharacteristically clean.
From his UNI/USD price chart, the token’s price action is within a rising channel after a sustained period of consolidation between $25 and $40.
Based on the RSI and the volumes indicator, it is evident that favorable factors pump the UNI/USDT. One of them is the apparent demand and participation from traders.
Accompanying the spike to new highs was a spike in trading volumes.
Meanwhile, momentum is picking up since the RSI indicator—used to measure the strength of a trend, is also printing higher, above 50.
UNI will Soar to $387 by July 2021
For a risk-averse trader, UNI at $50 is practical and feasible.
However, for one trader on the same forum, UNI is grossly undervalued at spot levels. His UNI/USD price prediction places the UNI price at a tantalizing $387.
These lofty targets are on the forecasts of the Hash Ribbons indicator—which he describes as the most reliable in the crypto space.
On this, the trader said UNI is at a critical level. For the first time since his last 10X gain, the Hash Ribbons indicator has printed another buy signal on Apr 25. The last time a buy signal printed was back on Dec 21. After that, the UNI price rallied 10X in the next four months.
Now, if the last bull signal saw a 10X rise in just 124 days, the next rally places the UNI price at $387 over the next 125 bars on the daily chart.
Catalysts accelerating the mega climb to $387 include the launch of Uniswap v3 on May 5 and the anticipated ETH supply shock once EIP-1559 is integrated in July 2021.
Prepare for UNI to Rally 8X
If you thought $387 was so specific and even “outrageous,” there is one trader on Trading View that’s calming nerves, confident of UNI soaring to over $300 in the next few weeks. He’s reinforcing previous UNI forecasts.
The optimistic trader, Jemkie, is nonetheless cautious.
On the one hand, he expects UNI to blow resistance and reach $300. On the other hand, he will be taking profits in lock-step, saying the bull run is on its last legs.
Still, we look at what made him make such a bullish conclusion.
For one, it is clear that UNI/USD broke above $40 after consolidating for six good weeks.
Presuming the rally that lifted UNI to over $30 was another accumulation.
In his view, Jemkie thinks these accumulations are like “charging” ports that reinvigorate bulls.
Accordingly, if UNI prices rose 8X from around $3 to $25, UNI bulls could be on the cusp of another 8X—at least from spot levels, placing the token at over $300.
Disclaimer: Opinions expressed are not investment advice. Do your research.