NewsletterUniswap Price Holds 20% Growth Potential If It Sustains This Level
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.
Source-Tradingview
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 candles in the last four days, projecting a high possibility of a successful bull run. Therefore, sideline traders can find multiple bullish entry opportunities at current market prices.
If the buying pressure sustains, the uniswap prices will hit the overhead resistance of the 200-day EMA close to the resistance trendline. Therefore, the price action analysis offers a buying opportunity with a potential 20% jump.
On a contrary note, if the selling pressure increases, the Uniswap market price will prolong the correction to test the support trendline. In such a case, traders can expect a downtrend to the bottom level at $5.7.
Technical indicator
EMAs: the reclaimed EAMs(20, 50, and ) give an extra edge to buyers to sustain above the breached $6.75 resistance. Moreover, a bullish crossover from the 20-and-50-day EMAs may accelerate the buying momentum.
RSI indicator: a sharp growth in the daily-RSI slope indicates the market sentiment favors the bullish theory.
- Resistance levels- $7.6, $9.6
- Support levels- $6.75 and 5.68
- NYSE Approves Grayscale Dogecoin and XRP ETFs to Launch on November 24
- Breaking: December Fed Rate Cut Takes a Hit as Labor Department Cancels October CPI Report
- Arthur Hayes Says The Bottom Is Near As Bitcoin Crashes To Six-Month Low
- MSCI Shocks Crypto As New Proposal Could Reclassify BTC, ETH, SOL Treasury Companies as Funds; Saylor Reacts
- 8 Best Crypto Offramps Service Platforms in 2025
- Dogecoin Price Finds Support: Can the 21Shares & Grayscale DOGE ETFs Spark a Surge?
- Will Solana Price Crash Under $100 as Crypto Market Signals Further Downside?
- Ethereum price Drops Below $2,700 as US Jobs Data Hits Rate-Cut Hopes
- Dogecoin Price Forecast: Will DOGE Hold Above $0.15 or Fall Lower?
- Pi Coin Price Eyes a 105% Surge as Bullish Patterns Align With Bullish Fundamentals
- Will XRP Price Rally to $3 After Bitwise Launches First XRP ETF on NYSE?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
