UniSwap price prediction – DeFi giant goes to ruins

 UniSwap is one of the largest DeFi platforms . At the beginning of the DeFi hype, UniSwap was at the forefront. But gradually they were replaced or faced more and more competition. More and more projects have attracted attention and other chains like Solana have become famous. . But what could happen next with the UniSwap token? We're going to look at the UniSwap rate today and assess how the rate might perform in the future.

The UniSwap price formed a sideways phase at the end of May 2021. This lasted until January 10th and then broke out in a bearish fashion. The sideways phase consisted of support (now resistance) $13.34 and resistance $29.19. As the price broke out of this phase in a bearish manner, the trend down could continue. We have already confirmed the breakout as the price retested the former $13.34 support as resistance.

Due to the breakout, the UniSwap course could still lose about 50% in value. The target of the rectangle is around $6. However, we can imagine the price dropping to the $5.69 support line. This line caused a one-time fall in prices. Likewise, the price weakened at this line once in early 2021, which is why we interpret it as future support.

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