Crypto prices came under pressure on Tuesday morning as Bitcoin price retreated below $109,000, and the market cap of all coins fell by 2.6% to $3.5 trillion. This price action came as some investors continued to take profits after Bitcoin soared to a record high last week. This article provides price predictions for top coins, like Uniswap (UNI), Quant (QNT), and PancakeSwap (CAKE).
Uniswap price forecast
Uniswap token has remained under pressure this year even as its network achieved substantial milestones. The most important one was the launch of Unichain, a layer-2 network that has become the fastest player in the industry.
Unichain continues to attract more developers on the network, while its protocols have now handled over $14 billion in volume. In contrast, DEX networks on the Cardano ecosystem are yet to handle $5 billion, ten years after it was started.
Uniswap also continues to have a good market share in the DEX industry even as competition continues rising. Most of this competition is coming from popular platforms like PancakeSwap and Raydium.
The daily chart shows that the UNI price bottomed at $4.825, where it formed a small double-bottom pattern. This was a notable level since it was also the lowest level in August last year.
UNI price has moved above the 50-day and 25-day Exponential Moving Averages (EMA), while the MACD indicator has moved above the zero line.
Therefore, the Uniswap price will likely have a bullish breakout, with the next point to watch being at $7.5410, the highest point this month. If this happens, the next price to watch will be the 50% Fibonacci Retracement point at $12, up by 85% from the current level. A drop below the support at $4.8 will invalidate the bullish outlook,
PancakeSwap price technical analysis
PancakeSwap has emerged as the biggest competitor to Uniswap as its volume grows. It handled over $11.46 billion in the last 24 hours, and over $64.6 billion in the last seven days. Its 30-day volume rose to over $118 billion, and is on track to have one of its best months in years.
This growth explains why the CAKE price is doing well. CAKE price has jumped from a low of $11268 on February 2nd to the current $2.68. It has moved above th 50-day and 25-day moving averages.
PancakeSwap price has moved above the ascending trendline that connects the lowest swing since February. Therefore, the coin will likely have a bullish breakout if it moves above the crucial resistance level at $2.8250. A move above that price will point to more gains, possibly to last November’s high of $4.5870, up by 71% above the current level.
Read more: CAKE price jumps 17% after PancakeSwap surpasses Uniswap in DEX rankings
Quant price forecast
Quant (QNT) token has bounced back in the past few weeks, moving from a low of $58.21 in April to $106, its highest level since February 26. Its rally happened after it was selected by the European Central Bank (ECB) to be part of the trial for the digital euro. Quant also secured a major partnership with Oracle, one of the top technology companies.
The QNT token has rallied and moved above all moving averages, with the 50-day and 25-day figures crossing each other. It has also crossed the important resistance level at $104.20, the highest swing on May 12.
Quant price will likely continue rising as buyers target the November high of $171, up by over 62% above the current level.
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