Uniswap (UNI) Price Aims for a 100% Rise Soon
The top DeFi token, Uniswap, has been largely volatile since the start of the year and experienced over 220% rise followed by 13% retracement. The price failed to clear one of the pivotal resistance zones between $18.9 and $19.6, the neckline of the parabolic recovery. However, the UNI price is expected to face an extended pullback and eventually trigger a strong rebound in no time.
The UNI price is currently facing extreme bearish pressure for the second consecutive week, which suggests it may maintain a strong descending trend until the end. The OBV has displayed a bearish divergence but may certainly not validate a momental shift from the ongoing bullish trend. The token is experiencing a rise in volumes after a long time and with the first weekly Golden Cross, the price is expected to get a larger boost and trigger a 100% rise, reaching levels above $24.