Uniswap Price Surges to Highest Level Since 2021, Anticipating Further Gains

The Uniswap (UNI) token price has surged to $19.44, its highest level since December 2021, as the overall crypto momentum continues to strengthen.

Uniswap’s Dominant Position in the Market

This rally coincides with robust inflows across decentralized exchange (DEX) networks, with over $372 billion worth of tokens handled in November, marking the largest monthly increase on record.

Uniswap alone processed $30.86 billion in volume over the last seven days, solidifying its position as the industry leader. Its volume significantly exceeded that of competitors like Raydium and PancakeSwap combined.

Key statistics highlighting Uniswap’s dominance include:

  • Over 465 million trades worth more than $2.36 trillion facilitated over its lifetime
  • $30.86 billion in volume processed over the last seven days

UniChain Launch and SEC Case Development

Uniswap’s price is also gaining momentum as traders anticipate the launch of UniChain, the platform’s independent Layer-2 chain, set to launch early next year. UniChain aims to enable seamless cross-chain trading on a single platform.

Additionally, there are rising odds that the Trump administration will abandon the case brought against Uniswap by the Securities and Exchange Commission, which alleged that the company provided securities on its platform without registration.

Uniswap Price Analysis

The weekly chart reveals that UNI has formed a slanted triple-bottom pattern, a bullish reversal indicator. The price has broken above the pattern’s neckline at $17.13, suggesting that bulls are firmly in control.

UNI is also approaching the 38.2% Fibonacci Retracement level at $19.23. Furthermore, it has moved above the 50-week moving average, while the MACD indicator and Relative Strength Index are both trending upwards.

Long-Term Price Target

The path of least resistance for UNI appears bullish, with a long-term target of $50, representing approximately a 180% increase from the current level. This aligns with predictions from analysts.

For this to happen, Uniswap price will need to rise above the 50% retracement point at $24 and its all-time high of $45.

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