Uniswap price staged a strong recovery and jumped above a key resistance level as demand for DeFi tokens jumped. It soared and retested the key point at $14, its highest level since March. It has jumped by over 168% from its lowest level in August. Meanwhile, iDEGEN, a new crypto in its presale, is gaining traction among investors.
Crypto analyst sees Uniswap price hitting $70
One crypto analyst has expressed a highly bullish Uniswap price prediction. In a post, Alex Clay, who describes himself as a trader and investor, predicted that the coin would initially jump to $28.4 in the near term followed by $45 in the mid-term. His main target is about $70, which would imply a 450% surge from the current level.
He pointed to the fact that Uniswap price has formed a cup and handle pattern, a popular bullish sign in the market. This pattern is made up of a rounded bottom and a consolidation followed by a strong bullish breakout.
#UNI $UNI 1000 Days Cup & Handle Accumulation😳
Currently testing the neckline of the formation, which is also a Key Zone & 0.236 fib👀
Breakout is imminent imo🚀
🎯Mid-Term Target: $28.4
🎯Mid-Term Target: $45
🎯Main Target Area: $56.3 – $70.5 (sell the main % of your bag…
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As shown below, UNI price started to form this patter in June and completed the first part of the cup this week. As such, in the near term, the most viable target to watch is $17, its highest level this month, which is about 33% above the current level. A break above that level will signal to more gains, possibly to $20.
The main catalyst for Uniswap is that its network is seeing substantial volume as the crypto rally continues. Its DeFi total value locked (TVL) has jumped to over $6.22 billion, making it the 6th biggest player in the DeFi industry.
Also, the volume handled in the network jumped by 65% in the last seven days to $29 billion, meaning that it is seeing strong traction as the crypto rally continues.
iDEGEN token sale accelerates
Crypto analysts believe that iDEGEN, an upcoming AI cryptocurrency in its presale, could become the next big thing. The hope is that it can mirror the performance of Uniswap and other mainstream cryptocurrencies and do well in the long term.
Data on its website shows that iDEGEN has raised over $326,000 in just two days, meaning that it is gaining popularity.
iDEGEN is a crypto at the intersection of blockchain, artificial intelligence, and social media, X in particular. According to its documents, the coin differs from other networks in that it does not come pre-loaded with any rules and knowledge. Instead, it comes like a baby that knows nothing and then learns complex details over time.
Its white paper notes that the coin will have a maximum supply of 11,111,111,111 IDGN tokens that will mostly be distributed to buyers.
Analysts believe that it has room to do well for a few reasons. First, it is in an industry that is seeing strong demand as evidenced by the performance of NVIDIA and Palantir. Second, the federal Reserve is cutting rates, which will push most crypto prices higher. Third, the upcoming Trump administration will be friendly to the crypto industry, which will lead to more inflows in the sector. You can buy the iDEGEN token here and follow it on X and Telegram.
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