UNI Technical Analysis: Trendline Breakout Eyes 20% Jump

Key technical points:

Past Performance of UNI

UNI coin price shows a double bottom breakout-led bullish reversal from the $8 support level resulting in a price jump of 30%. The rally breaks above the long-coming resistance trendline marking a bullish milestone after a fatal downtrend. Moreover, it surpasses the 50-day EMA, which has provided a constant dynamic barrier. 

Source-Tradingview

UNI Technical Analysis 

UNI coin price shows a retest phase of the trendline and the $10 breakout with a dragonfly candle of 1.92% retracement. Hence, a post-retest reversal rally may start shortly that may surpass the 100-day EMA.

Uniswap token rally challenges the bearish aligned EMAs and outperforms the 50-day EMA while ready to approach the 100-day EMA. However, a potential rise to the 200-day EMA is possible with the $12.5 breakout.

RSI Indicator: The RSI slope starts a remarkable journey with the bullish divergence generated at the $8 bottom. The rally approaches the overbought boundary and reflects a boom in buying pressure.

MACD Indicator: The MACD and signal lines continue the bullish uptrend by undermining two bearish crossovers. Hence, the positive histograms continue to grow despite a few bearish dips.

In brief terms, the UNI technical analysis shows a potential trend reversal possibility.

Upcoming Trend 

UNI coin price gains bullish attention with the long-coming resistance and the $10 breakout that may result in a bullish rally. Post-retest, the rally aims at $12.50. A firmer bullish grip could drive the prices higher to the 200-day EMA closer to $16. Hence, the rally shows a 20-45% price jump potential. 

However, price succumbing under the 50-day EMA will rectify the rally and result in a downtrend to the $8 mark.

Support Levels: $10 and $8

Resistance Levels: $12 and $16