Unifi Protocol DAO (UNFI) Price Prediction – When will UNFI hit $50?

Unifi Protocol is a decentralized Finance (DeFi) ecosystem with a built-in decentralized exchange and cross-bridge token swap protocol. Users can earn APY rewards like other decentralized exchanges by investing in listed trading pairs. As per the latest report, the Unifi protocol has more than $12m value locked in the platform for 461 different trading pairs.

Among other DeFi platforms, Unifi is unique due to its sophisticated feature and cross-chain protocol that automatically rebalances the liquidity head under its uBridge smart contract. 

As per the current reading, the current market cap of this token is $44,863,797, where the circulating supply is 5,712,284 UNFI or 57.2%. Last 7 days gain for this token is over 60%, which is remarkable for grabbing investors' attention.

Despite its bullish pressure, the UNFI price failed to hold the momentum after a massive weekly gain and showed an immediate recovery with a counter-impulsive momentum. 

What should investors do now? 

Let’s see the future price direction of Unifi Protocol DAO (UNFI) from the UNFI price prediction.

UNFI/USD Is Overextended Above The Crucial Fibonacci Level

The recent bullish spike came with a bullish break of structure, which is a primary sign of a trend change. However, the current price is trading 66% higher from the 4.773 near-term support level, which may result in a downward correction in the coming days.

According to the supply-demand concept, the last bearish candle before the bullish pressure is considered the demand area. For the UNFI/USD daily chart, the 5.601 to 4.773 area is regarded as the most recent demand zone. Therefore, a bearish correction may hit the 5.607 level, depending on the upcoming price action.

According to the volume structure, bulls are still in play as the highest activity level since 17 August is at 4.088 level. However, a downward correction is pending from the current area as a mean reversion. Although a bullish crossover is seen between 20 EMA and 100 SMA, the gap between the price and 20 EMA also suggests a bearish correction.

The current 14-day RSI shows an overextended bullish pressure as the current level is above the 70.00 overbought level. The bullish daily candle above the 21 February high also suggests that the price might grab enough liquidity before making a downside correction. 

As the current price is trading above the 2.618 Fibonacci Extension from the 4.773 high to the 3.076 low, a downside correction as the daily candle below the 7.280 could trigger the downside possibility. In that case, the primary target area would be 5.600 to 4.770 area.

Any bullish pressure with a stable momentum needs a sufficient correction. Therefore, a buying momentum from the dynamic 20 EMA or 5.601 static level could be a bullish signal, which may create a new higher high this month.

UNFI/USD Ichimoku Cloud Analysis

 

According to the Ichimoku Cloud UNFI Coin Price Prediction, UNFI/USD trades under extreme bullish pressure, as the current price is trading above the Ichimoku Kumo Cloud area. In the future cloud, the gap between the Senkou Span A and Senkou Span B is high while the Senkou Span A moves higher, indicating a possible bullish trend continuation. 

As the current price is overextended from the cloud zone and dynamic Kijun Sen level, a potential bearish correction is pending before forming a bullish trend continuation. Also, a potential double top pattern has appeared at the 8.498 resistance level, which needs validation from the new lower low formation.

According to the UNFI forecast, the current momentum for this instrument is bearish as long as it trades below the static 8.498 level. In that case, a bearish H4 candle below 7.295 could be a short opportunity, targeting the 5.600 area. 

On the other hand, any strong rebound above the dynamic Kijun Sen is supported by the early bullish trend that would increase the buying pressure toward the 10.00 psychological level.

UNFI/USD Intraday Price Action Analysis

 

In the Unifi Protocol price prediction, the visible range volume shows that the highest trading volume was at the 4.322 level, from where the recent upside pressure came. In that case, an extended buying pressure is in play, which needs a sufficient downside correction before offering another bullish opportunity.

This technical analysis shows how the MACD Histogram remained neutral with a bearish crossover in signal lines. Meanwhile, the dynamic VWAP is below the price, sloping higher with a bullish sentiment.

Therefore, UNFI/USD selling pressure may extend if a bearish H4 candle appears below the dynamic 20 EMA. In that case, bears may reduce the price to the 6.400 to 5.600 discount area. On the other hand, if bulls hold the price in this area and form a consolidation, it might create a new higher high in the coming days.  

Is Unifi Protocol (UNFI) A Sell?

According to the Unifi Protocol DAO (UNFI) Price Prediction, UNFIUSD bearish correction is still pending, and the primary aim is to test the 5.600 level in the coming days. An immediate buying signal from the overbought area might come after a re accumulation.

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