Key Takeaways:
- UNI price surged 25.22% over the past seven days, signaling strong upside.
- Breakout above key resistance confirmed with price now holding above $10.50.
- Technical indicators favor further continuation toward the $15 resistance zone.
Uniswap (UNI) has also recently built bullish momentum with firm indications for further upward movement after a decisive break above a major resistance area.
The token is currently quoted for $10.55 with a 24-hour volume of $468.36 million and a market capitalization of $6.63 billion.
The token has jumped by 3.62% in the last 24 hours and a very decent 25.22% in the last seven days, signaling increasing confidence by investors and buying interest.
UNI’s current 7-day candlestick chart indicates a clear change in market sentiment. The beginning of the week was characterized by a narrow consolidation period when prices went back and forth between $8.60 and $9.20.
There was minimal volume during this period with back-and-forth candles, which indicated indecision and base-building for a potential direction.
Momentum shifted firmly in favor when the token broke through the $10 resistance on the strength of a strong green candle backed by high volume. The breakout was a break into positive ground, with the price action touching levels near $11 before a minor correction.
The correction phase, however, was marked by red bars but was anchored firmly near the $10 mark, a previous resistance now translated into a new base of support by the successful breakout.
Also Read: Uniswap (UNI) Price Targets Set After Bullish Breakout, Aiming for $7, $18.26
Technical Setup Aligns for Higher Targets
From a technical angle, Uniswap has overcome pivotal exponential moving averages (EMA50, EMA100, EMA200), signifying a positive reversal from previous bearish configurations.
The current pattern on the chart has ascending lows forming, with volume softening in a classic consolidation pattern following a breakout, a common prelude to yet another bull leg.
Commentators pay attention to the absence of congestion on the overheads as a smooth landing ground for the token to aim for loftier resistance areas.
The next major level is around $15, a zone previously linked with selling pressure but now within grasp if the uptrend is maintained.
UNI Finds Support as Previous Resistance Flips
A broader technical examination uncovers UNI now comfortably sitting above the significant $7.50–$8.50 region, once serving as a large supply base.
Having this region now flipped over to buying interest with no major resistance on the horizon until the $15 region, the technical setup points toward the persistence of the established trend.
From a wider angle, the present momentum in UNI’s price action, with support from volume and superior technical placement above all key EMAs, is indicative of enduring bullish sentiments.
A successful holding above $10.50 could provide the platform for a run-up towards the $15 mark on subsequent sessions.
Also Read: Uniswap Eyes Explosive Breakout, Targets $15.96 After Resistance
