Uniswap Price Forecast: UNI Eyes $10 Milestone – Could $50 Be Achievable?

Uniswap (UNI) recently dipped to $9.0, disappointing investors who had hoped it would reach the $10 mark. UNI is now down about 10% from its earlier session highs in the $9.80 range.

No single catalyst exists behind the decentralized exchange’s (DEX) abrupt reversal. Instead, UNI’s intra-day turnaround aligns with a broader market sell-off.

Bitcoin (BTC) fell below $67,000 after reaching $72,000 earlier this week. Other major cryptocurrencies declined, with Ether (ETH) dropping to the $3,600 range from session highs near $4,000.

This market downturn may be a "sell-the-news" reaction to recent positive catalysts, such as expectations of the SEC approving spot Ethereum ETFs and the passage of the FIT21 bill through the House.

Regardless of the cause, Uniswap's price is under pressure. Here's where it could be headed next.

You can buy Uniswap (UNI) token on Bitrue

Where Could UNI Go From Here?

Source: Cryptonews

$10 is a crucial resistance level for Uniswap (UNI), and it's no surprise that the token has encountered strong resistance here. However, this doesn't necessarily mean UNI's rally is over. The cryptocurrency recently broke convincingly above its 21-day and 50-day moving averages, having previously been stuck in the $6.50-$8.00 range for over a month.

A move higher, potentially reaching $17, could be on the cards later this year. The SEC's recent U-turn on Ethereum ETFs has sparked optimism that they might not pursue charges against the Uniswap Foundation, which received a Wells Notice from the agency earlier this year. If the SEC decides not to press charges, it would lift a significant weight off UNI's shoulders.

But could UNI reach $50?

Uniswap reached as high as $45 in 2021 during the peak of meme coin mania. This cycle could surpass the last, with Bitcoin hitting new record highs this year and maintaining those levels, reflecting increased crypto adoption since 2021.

At $50, Uniswap would achieve a fully diluted market cap of just over $50 billion. As the leading multi-chain DEX protocol that continues to drive its sector forward, this is not an unrealistic price prediction.