Top analyst CryptoBull shared on X (formerly Twitter) that Uniswap’s (UNI) price has held firm at a critical support level, while THORChain (RUNE) has broken through a major resistance point, signaling potential gains for both tokens.
The analyst noted a favorable outlook on UNI’s consolidation within its range and a strong breakout for RUNE in another tweet, which is now among the top five gainers in the market with a 4.40% increase.
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What you'll learn 👉
Uniswap (UNI) Price Maintains Stability Within Range
Uniswap’s price movements reveal a consistent range-bound pattern, oscillating between two key horizontal zones. These zones act as support and resistance, preventing extreme movements either upwards or downwards. The chart shows UNI moving within this established range, where buyers accumulate near the support level while sellers dominate at the resistance level.
The lower green zone has acted as reliable support, rebounding multiple times and suggesting robust buying interest. Conversely, the upper green zone represents a barrier where selling pressure increases. This repetitive movement within the range signifies a phase of market indecision but could signal an opportunity if UNI eventually breaks out of this range.
Despite being range-bound, UNI’s recent bounce from support hints at a potential upward movement toward resistance. Volume has remained relatively low during this phase, a typical characteristic of consolidation.
However, should there be a spike in volume, a significant price shift may occur. CryptoBull’s tweet, “UNI chart looks good 👀,” suggests positive sentiment and confidence in the current structure, especially if support holds and UNI resumes its climb toward the resistance zone.
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Show more +THORChain (RUNE) Price Breaks Out of Consolidation Phase
In contrast, THORChain’s chart displays a strong breakout from a consolidation phase, marked by an ascending triangle formation. This pattern, characterized by rising lows and flat resistance, often indicates a bullish continuation.
The breakout is confirmed by a large upward candle that pierced through the resistance level, demonstrating heightened buying interest and momentum.
The breakout also aligns with a volume increase, which strengthens the move’s credibility and suggests that buyers may be ready to push RUNE even higher. CryptoBull’s tweet, “RUNE strong breakout👀✅,” underscores confidence in the token’s bullish shift.
Following the breakout, RUNE’s price rose by 4.40%, placing it among the top five gainers in the crypto market today. This performance further supports the bullish trend, as higher volume and consistent buying interest continue to drive the price upward.
If the breakout holds above the previous resistance, RUNE’s price may see continued gains. There’s potential for a brief retest of this level, which could provide an additional entry point for traders seeking confirmation.
As UNI remains steady and RUNE surges, both tokens present intriguing opportunities in their respective formations. Market participants may find UNI appealing for its stable range, while RUNE’s breakout attracts momentum traders eyeing further upside.
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