The Uniswap (UNI) token has seen a sharp rally, gaining over 7.33% in the past 24 hours. UNI climbed from an intraday low of $6.97 to a session high of $7.71, breaking through key resistance and showing signs of a bullish continuation. This move has drawn attention from technical analysts, with one predicting a potential breakout toward $10.
UNI Breaks Through Key Resistance Levels
UNI surged past the $7.65 resistance zone during early Monday trading, driven by increased buyer momentum and volume.
The breakout was supported by a strong technical structure:
- Initial support held at $6.9788.
- First breakout occurred near $7.40, followed by a push above $7.65.
- A volume spike between 02:00–05:00 GMT helped solidify upward momentum.
- Another surge in volume around 08:00 GMT confirmed the breakout above $7.65.
The price action has formed higher lows and established a bullish ascending channel, indicating sustained buying pressure.
Analyst Sees $10 Target in Sight
Crypto analyst commentary highlighted that UNI is “breaking out with momentum” and is on track for a move toward $10.
This sentiment reflects growing trader optimism following a period of consolidation and price stability. The breakout from this range has rejuvenated bullish interest, especially after UNI reclaimed price levels last seen in March 2024.
Key Technical Indicators to Watch
- Support Zone: $7.40 to $7.65 now acts as a new support level.
- Breakout Confirmation: Sustaining above $7.70 may validate a path toward $8.50 and beyond.
- Volume Trends: Trading volume remains elevated, showing strong market interest.
- Short Pullbacks: Minor dips during the 07:20 and 07:43 GMT intervals were quickly reversed, showing resilience.
Market Outlook: Can UNI Hold Momentum?
The key question now is whether UNI can consolidate above the $7.70 level to build further momentum.
If bullish volume continues and market sentiment remains strong, the $10 target is within reach. However, traders should watch for consolidation or potential retests of support.
UNI’s current market structure remains favorable, with technical signals and sentiment aligning for a possible continuation of this rally.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.