Uniswap Price: Amid a hyperactive bullish market phase, the Decentralized exchange Uniswap’s native token (UNI) enters the top performers list with a 19.28% intraday surge. The massive jump in the token’s valuations comes with the increased investor’s confidence with the new altcoin season. Thus, the breakout 2-year-long resistance indicates a pivotal trend reversal entry opportunity in Uniswap.
Also Read: UNI Price Soars 15% After This Key Proposal by Uniswap Foundation
What’s Ahead For UNI Price After 45% Weekly Surge
![BINANCE:UNIUSDT Chart](https://s3.tradingview.com/snapshots/a/aOYHQlLZ.png)
With the overall trend reversal leading to a bull market, the Uniswap price hits a new 52W high. With a surge in buying pressure, the UNI price has jumped 166% in the last four weeks.
The ongoing recovery rally ends the year’s long consolidation under a bearish banner. This reversal surpasses the psychological mark of $10 and marks a rounding reversal in the weekly chart.
A close-up analysis of the daily chart showcases a streak of bullish candles amidst the market recovery. The rising price has recently breached a key resistance of $14, offering another stepping stone for buyers to prolong the recovery trend.
Currently, the altcoin exchanges hands at $15.73 and may offer a minor pullback to $14 to display its sustainability at a higher price. With steady recovery, the UNI price should chase a potential target of $20, followed by $23.
Furthermore, the rounding bottom is a traditional reversal pattern, commonly at the maturity of a downtrend. The buyer’s recent escape from a long sideways trend indicates the Uniswap price is the beginning of a new uptrend.
Under the influence of the rounding bottom pattern, the UNI price may cause a potential target of $45.
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Technical Indicator
Exponential Moving Average: The fast-moving 20-day EMA acts as the first line of defense during the market correction.
Average Directional Index: The daily ADX slope at 48% indicates the buyers leading an exhausted rally and may need a minor pullback to regain strength.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.