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<a href="https://en.coin-turk.com/crypto-analyst-credible-crypto-issues-bitcoin-crash-warning-as-btc-struggles-below-key-level/”>Bitcoin continues to hold above $37,000, and the future looks brighter for altcoins. One of the biggest fears was the collapse of Binance exchange through US involvement, but officials have stated that they have done everything they can to prevent this. To prevent further damage, authorities are now allowing Binance to continue its operations.
Should You Buy UNI Coin?
While Binance continues its operations, the growth in the DeFi sector will continue. This also indicates that DeFi projects like UNI Coin could rise even further. Since June, the DeFi king has been trading above the horizontal support area. During this time, the UNI price followed a declining resistance trend line and reached $6.3 for the first time in 480 days.
Although we have not yet seen weekly closes above the trend line, the bulls are eager, and the recent news is important for the protocol. With the resignation of Changpeng Zhao as the CEO of Binance and the appointment of his successor Richard Teng, increased interest in DeFi is expected. Especially after the FTX collapse made a big impact, it is noteworthy that some new investors are directly joining the markets through decentralized structures.
Uniswap is gaining more attention, and it’s not just a rumor. The platform, which has seen a volume of $14.20 billion so far in November, may surpass June’s peak of $16.2 billion by the end of the month.
UNI Coin Analyst Predictions
First, we have Crypto Faibik, who expects a long-term rise as UNI breaks free from the declining resistance trend line. JJcycles points to continued upward movement due to both price action and developments in the crypto industry. Their strong conviction in the direction is positive, and the second analyst wrote the following;
“He said he would spend more time in DeFi after CZ’s resignation. This should be more than enough catalyst to cause a significant breakthrough in the largest spot trading protocol.”
If the upward trend continues, we may see the price reach the $7.4 resistance level with a 20% increase. Then, targets will be set at $7.61 and higher levels. However, if there is no weekly close above the long-term resistance, investors should prepare for a potential drop to $4 (with the support of a possible BTC decline).
