- UNI’s weekly chart shows bullish reversal patterns, indicating a possible long-term upward price movement.
- Price holds above the strong $5.00–$5.50 support zone, acting as a reliable bullish demand base.
- Key upside targets include $11.68, $14.92, and $18.26 if bullish momentum continues to grow.
- A weekly candle close above $7.00 would likely confirm sustained bullish strength and trend continuation.
Uniswap (UNI) is displaying a very bullish formation after developing two important reversal patterns, that of a falling wedge and a rounded bottom.
These patterns indicate that the downtrend is finished and a new trend upward is beginning. Following the breakout from the wedge, UNI is trading above $6.00, securely above the area of support between $5.00 and $5.50.
This level has held for several weeks and has become a zone of support for current price strength. The likelihood of further increases continues to be high as long as UNI stays above that level. The rounded bottom pattern further confirms a momentum shift.
Uniswap requires Weekly Close Above $7.00
The current chart shows three significant upside targets. The first target is $11.68, followed by the second target at $14.92. If the momentum sustains, the last bullish target lies at $18.26.
All these targets are in sync with the previous resistance zones, wherein the price might halt or retract marginally.
Traders are now watching the $7.00 level closely. A weekly close above this price could signal stronger momentum and encourage more buying in the mid-to-long term.
Price Action Supports Bullish Outlook
Currently, UNI is trading close to $6.28 with decent volume as well as market backing. The price has increased by 2.34% in the past 24 hours, while it witnessed a growth of 4.09% over the last week. All these parameters depict gradual but consistent growth along with growing interest.
The outlook would still be positive as long as the token stays above the wedge breakout and rounded bottom support. In the next weeks, traders and investors will focus on whether UNI could break above $7.00 and continue towards the higher targets.
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