Uniswap, Aave, and Bancor Technical Analysis - Will Bulls Take Over?

Dalmas  |  Apr 5, 2021

The Uniswap, AAVE, and Bancor prices remain in range mode as bulls slow down after a solid show in Q1 2021. The Uniswap can break above the current range for $40, while AAVE can reach $480 if bulls take charge as AAVE technical analysis shows. On the other hand, Bancor bulls can drive BNT/USD prices to $9 if participants shake off sellers of late Mar 2021.

Here are today's Uniswap, AAVE, Bancor price forecasts:

Uniswap (UNI)

Uniswap is the world's leading decentralized exchange on Ethereum.

Trackers reveal that Uniswap manages $5.84 billion of digital assets, effectively becoming the largest swapping protocol in DeFi scenes. UNI is Uniswap's native governance token.

UNI/USD Past Performance

The Uniswap price is in an uptrend, trading in a bullish breakout pattern above Sep 2020 highs of around $23.

As per trackers, UNI is perched at 14th in the market cap leaderboard and is therefore liquid.

However, it is weaker on the last trading day, shedding two percent versus the greenback and 10 percent against ETH in the past week of trading.

Day-Ahead and Tomorrow

Notably, the UNI price remains in consolidation inside Mar 22 and 23 high-volume bear candlesticks suggesting weakness in lower time frames.

Accordingly, sellers could take over, reversing the trend if UNI/USDT prices fail to surge above last week's highs of around $32.

Overly, the UNI/USDT price is on an uptrend.

However, despite traders' expectations, Uniswap bulls struggle to add to their solid Q1 2021 gains.

UNI/USDT prices remain in range with caps at $32 and $25 with decreasing volumes, a zone marking Mar 23 trade range.

UNI/USDT Technical Analysis

From an Effort-versus-Results analysis, sellers are in control.

UNI prices may snap back to the trend if there is a comprehensive close above $32 with high trading volumes exceeding those of Mar 22 (Binance data).

Losses below $25 cancel the uptrend, confirming the three-bar bear reversal pattern of Mar 19 to 24 in line with Uniswap technical analysis gauged from candlestick arrangements. In that case, UNI prices may fall below $23 to $18 - the 50 percent Fibonacci retracement level of the Q1 2021 trade range.

Aave (AAVE)

Aave is a lending protocol and the project behind the innovative flash loans. According to trackers, Aave locks $5.7 billion of tokens. AAVE is the native governance token for the decentralized protocol.

AAVE/USDT Past Performance


The AAVE price currently trades at $394, relatively stable on the last trading day versus the greenback but up 13 percent week-to-date.

Still, the AAVE/USDT price remains in consolidation. Traders are watching reaction points between $450 - the resistance and sell wall, and $300 - immediate support.

For trend continuation, AAVE bulls should push prices above $450 with conviction only marked by a spike in trading volumes.

Day-Ahead and Tomorrow

Despite the ranging AAVE/USDT market, the uptrend is firm, as Q1 2021 performance reveals.

Nonetheless, in the immediate term, bulls haven't been able to reverse losses of late Feb 2021 as AAVE technical analysis shows. Mostly, prices are trending inside the H2 Feb 2021 trade range with decent participation levels.

The good news is that UNI prices reversed from late Mar 2021 with relatively high trading volumes suggesting traders' interest.

AAVE/USDT Price Analysis

From the above, the light trading volumes and lower lows may build a case for distribution more so if AAVE/USDT prices dump from $450 below the middle BB.

Losses below Apr 2 lows at $365 may see prices slide to $300.

On the flip side, gains above $420 may pump AAVE towards $450 - the main sell wall.

Bancor (BNT)

Bancor is one of the earliest swapping protocols in Ethereum and EOS. It is innovative, adding more features to tackle impermanent loss like single-sided liquidity and, recently, adding insurance.

As of Apr 5, it is the 10th largest DeFi protocol with $1.75 billion in TVL.

BNT/USDT Past Performance


In the past two weeks, the BNT/USD price has been in range within a $1.5 zone.

Moreover, BNT bears appear in charge. Notably, the BNT price is relatively firm week-to-date, adding five percent but down in the past month of trading against the greenback.

Day-Ahead and Tomorrow

As long as bulls absorb sell pressure, Bancor may snap back to the trend. Presently, resistance is at $8, while support is at $6.5. Changing hands at $7.4, odds of a break above $8 in a trend continuation pattern remain high.

BNT/USDT Price Analysis

There is a double bar bear reversal pattern of Apr 2 to 3. Losses below $7 confirm sellers of late Mar 2021, opening up BNT prices to $6. On the other hand, a comprehensive break above $8 in a trend continuation pattern of Q1 2021 confirms the current consolidation as an accumulation as Bancor technical analysis reveals. In that case, BNT prices may reach $9 - March 2021 highs.

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