Published 7 hours ago
On October 5th, the Uniswap coin price gave a bullish breakout from the monthly resistance of $5.7 resistance breakout should encourage buyers to complete a bull cycle within the symmetrical triangle pattern. However, until the price action remains in this pattern, the altcoin will follow a sideways path.
Key points from Uniswap Price analysis:
- The UNI price breakout from $6.75 indicates further growth potential.
- The Higher price rejection candles above $6.7 indicate that traders must wait for price sustainability before entering long trade.
- The 24-hour trading volume in the Uniswap token is $136 Million, indicating a 6% loss.
The overall contracting trend in the uniswap prices creates a symmetrical triangle pattern in the daily chart, with a solid resistance and support trendline. Currently, the price action displays a recovery rally from the support trendline, crossing above the daily EMAs(20, 50, and 100).
The bull cycle accounts for a 30% jump within three weeks and crosses above the $6.8 resistance level. On deeper analysis, the price action offers an inverted head and shoulder pattern break, with the neckline coinciding at $6.75.
Additionally, a sustainable trading volume supports the streak of bullish ca
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