Uniswap’s native token, UNI, surged more than 25% on Wednesday following the release of a highly optimistic price target from banking giant Standard Chartered.
The rally was triggered by the bank’s digital assets team launching research coverage on UNI. In a June 15 note, Standard Chartered initiated its forecast with a target of $100 by the end of 2030.
“We initiate coverage of Uniswap with a UNI-USD price forecast of USD 100 by end-2030, a 40x increase from today’s USD 2.50 level,” wrote Geoffrey Kendrick, the bank’s Head of Digital Assets Research.
The Tokenization Thesis
The bank’s core argument is that Uniswap is positioned to become critical infrastructure for the future of tokenized finance. Standard Chartered’s research projects that tokenized assets active in decentralized finance could expand 37x over the remainder of this decade.
Uniswap has been actively expanding in this area, recently allowing users to trade tokenized representations of companies like SpaceX, Apple, and Tesla directly on its platform.
Price Action and Technicals
The price surge saw UNI climb to an intraday high of $3.70 on June 17 before stabilizing around $3.64. This move extended the token’s weekly gain to nearly 50%, making it a top performer among large-cap cryptocurrencies.
The rally broke UNI out of a multi-week falling channel. Technical analysis shows the token has cleared several key Fibonacci retracement levels in quick succession.
The next major resistance is noted at $3.73, corresponding to the 23.6% Fibonacci level. A clear break above that point could open a path toward the $4.17-$4.24 resistance zone.
Momentum indicators are currently in deeply overbought territory. The four-hour RSI has climbed above 91, and futures trading volume increased by more than 240% as short sellers covered positions.
Broader Market Context
The rally occurred against a backdrop of generally favorable conditions for risk assets. Bitcoin held near $65,000, while easing geopolitical tensions helped improve sentiment across speculative markets. This environment encouraged capital rotation into higher-beta altcoins.
Key support for UNI is now established between $3.24 and $3.46. Macro risks tied to the Federal Reserve’s policy and Middle East developments could still pressure high-volatility assets.
Based on reporting from crypto.news.
