Top crypto price predictions: Monero, Uniswap, Cardano

Cryptocurrency prices were in a highly consolidating phase on Tuesday morning as Bitcoin remained below $100,000. Most tokens were largely unchanged, with many of them waiting for Bitcoin to give them direction. This article provides top crypto price predictions for several tokens like Monero (XMR), Uniswap (UNI), and Cardano (ADA).

Monero price prediction

Monero, the giant privacy crypto coin, has steadily increased in the past few months. It has jumped from $100 in 2023 to $235 today, its highest level since April 2022. The coin has soared above the crucial support level at $187, its highest level in January 2023. It had attempted to flip that resistance into support several times before and failed.

Monero has moved above the 50-day moving average and has formed an ascending channel, a sign that bulls are in control for now. Further, the Average Directional Index (ADX) has moved to near 30, signaling that the trend is strengthening.

Therefore, the Monero price forecast is bullish if it crosses the important resistance level at $250, the upper side of the channel. Such a move will see it soar to the crucial point at $288, the highest level in April 2022. A drop below the support level at $200 will invalidate the bullish view.

Read more: Monero price prediction: here’s why XMR could surge soon

Uniswap price forecast

The Uniswap price has pulled back in the past few weeks, falling from the year-to-date high of $19.50 to the current $10. It also crashed below the important support level at $16.85, its highest swing in March last year.

Uniswap price has stabilized recently after the developers launched the Unichain mainnet. Data on the website shows that the network has handled over 3.1 million transactions and processed 32,000 smart contracts. 

Uniswap price has moved above the ascending trendline that connects the lowest swings since June 2022. That is a sign that it is forming a series of higher highs and higher lows. The resulting pattern is known as a megaphone or an ascending broadening wedge. An asset forming a giant megaphone pattern often makes a strong comeback. 

Uniswap price will likely bounce back in the coming months, and possibly retest the key support at $24, which is at the 50% Fibonacci Retracement point and 147% above the current level. This forecast will likely take time to complete since it is on the weekly chart.

Cardano price analysis

The ADA price has stabilized a bit as investors reacted to a recent partnership with Globant, a leading Argentinian AI company. Traders are also waiting for an upcoming meeting between Charles Hoskinson and another VIP, who some analysts speculate will be Elon Musk. There are also rising odds that the Securities and Exchange Commission (SEC) will approve a spot Cardano ETF.

Cardano price was trading at $0.80 on Tuesday morning as it entered the third phase of the Elliot Wave pattern. It has also moved above the 23.6% Fibonacci Retracement level and the key point at $0.80, the highest swing in April 2024. 

Therefore, there are rising chances that the ADA price may continue rising in the coming months. Such a move will push it initially to $1.31, the highest level in 2024, followed by $1.67, the 50% retracement point. 

Read more: Cardano price prediction: ADA may double, but risks remain