|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
This Analyst Predicts Uniswap (UNI) Will Outperform All Altcoins and Bitcoin in 2025 – Here's Why
Dec 22, 2024 at 09:00 pm
Looking at UNI's price and market trends, crypto analyst Algreed thinks it could perform better than Bitcoin and other cryptocurrencies in 2025.
Cryptocurrency analysis firm Algreed has shared its latest market insights, predicting that Uniswap (UNI) could outshine Bitcoin and other major cryptocurrencies in 2025. Here's a closer look at their analysis and the factors driving their optimism for UNI.
Algreed's analysis spans a three-year period, highlighting UNI's sideways trading within a defined range. This extended consolidation period, depicted in the market cap chart, indicates prolonged accumulation. Notably, the chart showcases a recent breakout of UNI's price above the $8 billion market cap level, signaling a potential shift into a bullish phase.
Chart displaying UNI's market cap over three years, highlighting a breakout from prolonged consolidation. (Source: TradingView)
As the chart unfolds, key resistance levels are pinpointed at $15.59 billion and $25.19 billion. The former aligns with previous highs, while the latter marks an all-time high from 2021. On the support front, the immediate base is noted at $8.12 billion, bolstered by strong support near $8 billion, the breakout zone.
This breakout suggests a potential entry of UNI's price into a new growth cycle, presenting opportunities for accumulation during pullbacks to the support zone. A break above $15.59 billion could pave the way for testing the $25 billion level in the future.
Next, zooming out on UNI's price action against Bitcoin (BTC), the analysis spans two years and highlights a downtrend. However, a closer look reveals a breakout of UNI's price from this downtrend, which might indicate a shift in momentum.
Chart displaying UNI's price against Bitcoin (BTC) over two years, highlighting a breakout from a downtrend. (Source: TradingView)
The price movement forms what appears to be a bowl shape at the bottom, typically indicating a potential trend reversal. At the moment, 0.0001398 BTC acts as a floor for the price. If it continues to rise, the next resistances are 0.0002488 BTC, followed by 0.0003926 BTC. Beyond that, there's a dense resistance zone between 0.0005-0.00075 BTC, where prices encountered difficulties breaking through earlier.
Now, zooming out even further on UNI's price action, this time against Bitcoin (BTC), the analysis spans five years and showcases a massive downtrend. However, a breakout of UNI's price from this downtrend is observed, which might signal a trend reversal.
Chart displaying UNI's price against Bitcoin (BTC) over five years, highlighting a breakout from a massive downtrend. (Source: TradingView)
This breakout from the downtrend suggests a shift in momentum, as the price begins to move away from the lows created in 2021 and 2022. The analysis identifies 0.00007 BTC as a crucial support level, acting as the lows during the FTX collapse. If the price continues to rise, the next resistances are 0.00014 BTC, followed by 0.00025 BTC. Beyond that, there's a dense resistance zone between 0.0003-0.0004 BTC, where prices faced challenges breaking through earlier.
Moreover, Algreed's analysis also highlights the upcoming catalysts that could drive UNI's performance, emphasizing the impact of developments from Uniswap and Unichain in sustaining the bullish momentum. While the technical analysis already points to a promising outlook, these catalysts could provide the fundamental support needed for UNI's price to outshine other digital assets in 2025.
The alignment of technical indicators and fundamental prospects places UNI as a token to watch in the upcoming year.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- XRP Whales Accumulate 80 Million XRP as RLUSD Launch Signals a New Surge
- Dec 23, 2024 at 03:05 am
- As the crypto market wavers under the shocks of volatility, XRP whales are making strategic moves. Between massive accumulation and the launch of the stablecoin RLUSD, Ripple seems to be laying the groundwork for a new surge. But is XRP really ready to take off?