Uniswap Price Prediction: Recovery Possible if Bulls Defend 15.4657

Uniswap Labs now has its first Chief Operating Officer in the person of Mary-Catherine Lader, according to reports monitored online. This move comes as the token suffered a massive drop in the last five weeks as the crypto market continues to take a huge hit. 

Lader will join the project from BlackRock asset management firm, and is expected to take charge of Uniswap’s mission to secure additional market share in the DeFi space.

In the meantime, the Uniswap token registered modest gains on the day as the token attempts to find a floor following a relentless selloff. Uniswap is 7.39% higher on the day. 

Technical Outlook

The daily chart shows that Uniswap has found support at the 78.6% Fibonacci retracement from the 22 January to 8 May price swing, with 15.4657 being the support price. A bullish Uniswap price prediction comes from bulls being able to hold firm and extend the bounce further north to 20.0000 (psychological resistance), or 21.8170 (61.8% Fibonacci retracement mark). Additional gains would test 24.000 and 26.2780 (50% Fibonacci retracement level) along the way.

On the other hand, a breakdown of the 15.4657 support level invalidates the bullish Uniswap price prediction outlook. It opens the door towards 13.9626 initially (30 January and 22 June lows), with 12.0000 and 9.2847 serving as additional targets to the south.

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Uniswap: Daily Chart

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