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- Uniswap forms a falling wedge and a rounded bottom, signaling a potential shift from bearish to bullish trend.
- Break above $7.00 confirms bullish momentum; key targets: $11.682, $14.924, and $18.266.
- RSI at 49.65 shows neutral sentiment, while MACD indicates growing bullish momentum.
UNI is demonstrating strong signs of going up again, as Rose Premium Signals highlighted on X. A technical pattern in its weekly chart points to a possible rally. Currently, the currency is shaping a falling wedge and proceeding with a rounded bottom pattern, both patterns that traditionally show bearish periods ending, according to Rose Premium Signals. These are considered strong signs that the trend may soon shift from bearish to bullish.
The market is watching closely for signs that the price might reach higher points. UNI needs to hold above the resistance at $11.682 to start a recovery. If the price goes past this level, traders will probably begin to notice the second target of $14.924. The best-case scenario for bulls would be a new high of $18.266 which would be much higher than UNI’s current price.
A key thing for traders to notice is the possibility of the weekly price moving above $7.00. If UNI moves above this level, it would provide a better reason for the token’s price to keep rising in the following weeks. This movement would suggest that more and more support is appearing, making it possible for Uniswap’s price to increase in the long term.
Source: X
Uniswap Bullish Momentum Indicators
Uniswap (UNI) has an RSI of 49.65, just below 50, which suggests it isn’t either overbought or oversold. The RSI goes up, indicating a mild bullish mood. It is approaching 52.66, and an additional rise may signal upward momentum once the index enters the overbought range.
For MACD (Moving Average Convergence Divergence), it is giving a positive sign as the MACD line is 0.123 and is on top of the signal line at 0.088.It suggests that the short-term trend is still positive. Nevertheless, the small size of the histogram suggests the bullish feeling at this time is still mild and the market might not sustain a strong rally without improving further.
Uniswap has a price of around $6.15 and its key support levels are located between $5.00 and $5.50. This area has shown solid demand because buyers are consistently holding onto these levels. If UNI remains above the current support and the place where the falling wedge was broken, it should keep heading upward.
Bullish signs can be seen in Uniswap’s current price action, mainly because of the falling wedge and rounded bottom patterns. As long as the price of the cryptocurrency remains above $5.00–$5.50, it may continue to rise. Breaking above $7.00 would show the uptrend is intact, with potential targets rallying to $18.266. The following weeks will play a key role in deciding if Uniswap’s positive trend will continue.
