Cryptocurrency analyst names a token from the list of the best that can grow significantly in the near future

A cryptocurrency analyst has said that the Uniswap token (UNI) may be preparing for a price breakout. According to the expert, who goes by the pseudonym Ali charts, Uniswap’s metrics indicate that the UNI rally will begin very soon.

In a new publication on the X platform, the analyst discussed the outcome that UNI may face based on some key indicators. The first metric that matters is the number of addresses holding the tokens.

The above graph shows that about 308,910 Uniswap addresses or investors are currently «underwater» — the asset is worth less than what they paid for it when they bought it. This is equivalent to about 87.56% of the entire cryptocurrency user base.

As a rule, the more investors make a profit, the higher the likelihood of a token sale, as holders have the opportunity to realize their profits. On the other hand, a large number of investors suffering losses can mean that sellers in the market are exhausted.

Since many Uniswap addresses are currently in the red, this means that the pressure from sellers may be exhausted. Thus, the value of the asset may continue to grow. At the time of writing, Uniswap is trading for $ 4.16, with a market capitalization of $ 3.1 billion.

«Despite the fact that Uniswap has formed a key support level at $ 4, there are still 2 supply walls that it needs to overcome to signal a bullish breakout,» the expert emphasized. «One of them is at $ 4.23, where 7,000 addresses have bought 14.24 million UNI, and the other is at $ 4.45, where 2,000 addresses own 10.28 million UNI.»

Last week, the founder of the decentralized cryptocurrency exchange Uniswap, Hayden Adams, destroyed his own $ 650 billion worth of HauCoin tokens. In this way, Adams burned 99.99% of HAY stocks. Cryptocurrency analysts have calculated that if Hayden Adams had sold all the burned cryptocurrency, he would have become a billionaire, richer than Elon Musk. According to Forbes, the owner of X, Tesla, and Space X is estimated to be worth $ 252.2 billion.