Uniswap (UNI) price analysis: Will it reach its all-time high?

Crypto analysts are optimistic that the coin will continue rising, and even reach its all-time high of near $45.

Uniswap [UNI] has continued its strong rally, rising for three straight weeks, and reaching its highest level in three years. The crypto is now trading at $17.04, up 124% from the start of the year.

While crypto analysts are optimistic that the coin will continue rising, and even reach its all-time high of $44.86, such a move would imply a 135% from the current level.

First, he sees Unichain as a gamechanger in the network’s evolution. Unichain, which is set to launch soon, will be its layer-2 network and will have features like multi-chain token spending, instant transactions, and significantly lower fees. Cryptocurrencies often rally ahead of a major event or launch.

Ape also sees the upcoming Uniswap Router V4 launch, which will happen before the year ends. The fourth version will enable hooks, dynamic fees, and have a singleton design.

Meanwhile, third-party data shows that Uniswap’s volume of transactions has risen in the past few weeks.

Uniswap price analysis

The daily chart shows that the UNI price has staged a strong rally in the past few weeks. It has crossed the important resistance level at $17.05, the upper side of the cup and handle pattern. C&H is characterized by a rounded bottom and is often a continuation sign.

Uniswap also formed a golden cross pattern as the 200-day and 50-day moving averages flipped each other. Also, the Percentage Price Oscillator and the relative strength index have pointed upwards — a sign that it has the momentum.

Therefore, the next potential Uniswap price target is $30. This target is established by measuring the depth of the cup, and then extrapolating the same distance from the upper side of the cup.

A move to its all-time high will be confirmed if it moves above that level and if the ongoing crypto bull run continues.