Summary:
- Uniswap (UNI) rebounds from key support at $5.17, rising 24.89% in 24 hours.
- Technical indicators, including RSI (67.41) and MACD crossover, confirm bullish momentum.
- UNI exits a prolonged downtrend, with price targets eyeing higher resistance levels.
- Rising market demand reflected in a 205.15% spike in trading volume.
- UNI targets $20.42, $24.19, and $30.09 as potential resistance levels.
Uniswap’s Impressive Rebound: Breaking Free from the Downtrend
Uniswap (UNI) has stunned the crypto market with a remarkable 24.89% surge in the past 24 hours, climbing from the $5.17 support level to its current price of $6.68. This sharp upward movement suggests that UNI is leaving behind a prolonged downtrend, which has held its price below $15 since January 2025.
Technical Indicators: A Bullish Shift on the Horizon
The recent rally is backed by strong technical indicators. The Relative Strength Index (RSI) currently stands at 67.41, signaling increased buying pressure, though it is nearing the overbought zone of 70. While this indicates a bullish sentiment, it also suggests a potential short-term pullback before further upward momentum.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows a positive crossover, with the MACD line at 0.117 crossing above both the signal line and the zero line. This confirms a shift in market sentiment from bearish to bullish, reinforcing the positive outlook for UNI in the short term.
Breaking Out of the Regression Channel: What’s Next for UNI?
Uniswap has recently exited a downtrend channel that defined its price movement for months, with lower highs and lower lows. From a high of $17.80, UNI plunged to below $5.00, but the recent bullish breakout at $6.49 suggests the end of this downward phase.
According to an analysis by Rose Premium Signals, UNI’s next potential targets lie at key resistance levels, including $20.42, $24.19, and $30.09. These targets are derived from Fibonacci retracement levels, which provide insight into where the price could head next.
Market Sentiment and Future Outlook
The current surge in UNI’s price is complemented by a significant rise in market activity. Trading volume has increased by 205.15%, now totaling $467.09 million, while the market capitalization stands at $4.09 billion. This reflects the growing demand for Uniswap as it exits the downtrend and targets higher price levels.
As the cryptocurrency market sees increased optimism, UNI’s breakout from the falling wedge pattern is a clear indication of a new bullish trend. With strong technical backing and market sentiment shifting in favor of Uniswap, the next few weeks could prove to be pivotal in the asset’s journey toward new highs.
Uniswap (UNI) is on track for a potential upswing. As the bulls take charge, we’ll be keeping an eye on how UNI performs against its key resistance levels and whether the current rally continues to gain traction