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Analyst Predicts 30% Surge in UNI Price: Is a Uniswap Resurgence on the Horizon?

Uniswap’s native token, UNI, has been facing challenges in terms of its price action recently. While the overall state of the crypto market may be a factor in this decline, other issues such as the Wells Notice from the US Securities and Exchange Commission (SEC) to the Uniswap protocol have also contributed.

Despite this, the UNI price seems to be rebounding, with the token rising by over 2% in the last day. A well-known crypto expert on X has indicated that a bullish trend could be starting for the DeFi coin, but the question remains: how high can Uniswap’s price go?

Analyst Sets $10 Target For Uniswap Price

In a recent post on the X platform, esteemed crypto analyst Ali Martinez shared an optimistic prediction for UNI’s price. Based on the TD (Tom DeMark) Sequential Indicator, Martinez believes the cryptocurrency may be gearing up for an upward movement in the near future.

The TD Sequential indicator consists of two phases, the “setup” and the “countdown.” As per the chart, UNI’s price has completed the setup phase, indicating a potential trend reversal. Martinez notes that the TD Sequential has signaled a buy alarm on the UNI daily chart, suggesting a possible rally in the next 1-4 days with a target price of $10.

UNI Price Overview

At present, UNI is trading around $7.46, reflecting a 2% increase in the last 24 hours. However, the coin is still down by over 4% in the past week according to CoinGecko’s data. Despite this, UNI aims to reclaim the $10 level after losing it due to the SEC’s actions.

Uniswap’s daily price chart | Source: Ali_charts/X

UNI’s potential recovery on the daily timeframe can be seen in the UNIUSDT chart on TradingView. It is important to note that crypto investments come with significant risk, and it is advisable to conduct thorough research before making any investment decisions.

Disclaimer: The article is provided for educational purposes only and does not reflect NewsBTC’s views on investment decisions. Investing in cryptocurrencies carries risks, and individuals should use the information on this website at their own discretion.

Source: NewsBTC.com

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