Uniswap to hit $5.20
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The Uniswap (UNI) pattern broke above the monthly resistance at $6 under the influence of an inverse head and shoulders chart pattern. Hence, coin buyers are developing another pillar to climb further up the price chart. Additionally, the technical setup of this bullish reversal pattern should encourage buyers to rally the bulls to $8. you should enter
For almost two months, I. H. From May 11 to July 8, the UNI/USDT pair traded sideways, struggling to clear the $6-$5.9 resistance. Furthermore, this consolidation has formed an inverted head and shoulders pattern, which offers traders a chance for recovery.
The recent drop in UNI price has stabilized around $4.65, forming the right shoulder of the pattern. The corrected rally sent the altcoin surging 40% and breaking the neckline resistance at $6.
On July 9, the coin saw a decisive breakout from $6, supported by a significant increase in trading volume. Additionally, the altcoin, which is currently in the retest phase, provides an entry point for contrarian buyers.
Alternatively, the impact of the $6 support level would nullify the bullish thesis and trigger another correction in UNI price.
****
The Uniswap (UNI) pattern broke above the monthly resistance at $6 under the influence of an inverse head and shoulders chart pattern. Hence, coin buyers are developing another pillar to climb further up the price chart. Additionally, the technical setup of this bullish reversal pattern should encourage buyers to rally the bulls to $8. you should enter
For almost two months, I. H. From May 11 to July 8, the UNI/USDT pair traded sideways, struggling to clear the $6-$5.9 resistance. Furthermore, this consolidation has formed an inverted head and shoulders pattern, which offers traders a chance for recovery.
The recent drop in UNI price has stabilized around $4.65, forming the right shoulder of the pattern. The corrected rally sent the altcoin surging 40% and breaking the neckline resistance at $6.
On July 9, the coin saw a decisive breakout from $6, supported by a significant increase in trading volume. Additionally, the altcoin, which is currently in the retest phase, provides an entry point for contrarian buyers.
Alternatively, the impact of the $6 support level would nullify the bullish thesis and trigger another correction in UNI price.
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