On Monday, November 25, the Uniswap token reached $12.37, its highest level since April 1. This means the token is up over 150% from its yearly low. Crypto analysts predict further upside potential for Uniswap.

Famous crypto phenomenon Anasta Maverick stated in an X post with her more than 26,000 followers that the Uniswap token could rise to $ 17.70. This means a 50% increase from its current level.

Maverick stated that the token is following a strong upward trend and that he thinks the price will increase further. On the other hand, crypto analyst HypeManAlex, in a statement to his more than 54,000 followers, predicted that the Uniswap token could rise to the $100 level.

This marks a 733% increase from the token’s current level. HypeManAlex pointed out the importance of Uniswap in the decentralized exchange sector and stated that this was the main factor in the price increase.

Data shows that Uniswap supports more than 20 blockchains and has generated over $26 billion in transaction volume in the last 7 days. Additionally, Uniswap has processed a total of $1.54 trillion in transactions since its launch, $81.7 billion of which occurred in the last 30 days.

Uniswap’s biggest rival, Raydium, provided a transaction volume of $26.86 billion and $231 billion in total last week. Uniswap’s leading position in the industry is met with great interest by investors.

The Uniswap network also introduced a layer-2 solution called Unichain, developed as an alternative to major platforms such as Ethereum, Solana and Arbitrum. Unichain, which is currently in the testnet phase, will be available on the public mainnet by late 2024 or early 2025.

Unichain promises more efficient and faster transactions compared to Ethereum and other major platforms.

However, there are also some risks regarding the future direction of Uniswap price. According to the data, whale investors are still selling the token. Etherscan data shows that one whale moved over 466,000 UNI tokens to OKX for $5.4 million, while another whale moved $1.29 million worth of tokens to Coinbase.

These large sell-offs indicate that selling pressure increases as the price rises, potentially causing the price to fluctuate.

In technical analysis, Uniswap created a golden cross model with the intersection of the 50-day and 200-day exponential moving averages. This is often interpreted as a harbinger of higher price increases.

Also observed is the cup and handle formation, which is characterized by a consolidation phase after a rounded bottom. This pattern shows that the price could rise as high as $17.

However, Uniswap may need to experience a major rise to reach the $100 level, and this does not seem likely in 2024. This seems unlikely to happen, as a 733% increase would be required for such an increase. Moreover, in the event of a decline below the $9 level, the current bullish expectation may become invalid.

The future of Uniswap continues to be shaped by its role in the decentralized exchange market and infrastructure developments. However, investors should be careful and determine their strategies by monitoring market movements.