Uniswap’s price has been showing signs it might move higher soon. Veteran analyst AltcoinView has outlined critical levels and scenarios for UNI’s next move on X (formerly Twitter).
The altcoin established a support base near $10.909, sparking upward price action. However, whether it can break through key resistance zones remains a discussion among traders.
What you'll learn 👉
UNI Price Support and Resistance Levels
AltcoinView noted that UNI’s price has found strong support at $10.909, triggering an initial move towards $12. This level has acted as a crucial foundation for the recent rally. The resistance zone between $15.44 and $16.45 is now the primary area of interest for a bullish continuation.
Moreover, a confirmed breakout above this range could pave the way for higher targets, potentially reaching $19.497 and $23.116. These levels align with historical resistance and liquidity zones identified by analysts.
On the downside, losing the $10.909 support could increase selling pressure. If this occurs, UNI may retrace toward $6.60, a key area that could attract buyers based on historical price action.
Looking at AltcoinView’s chart, we can see a clear ABC correction pattern forming. UNI is moving through Wave B, and the analysis suggests Wave C will move upward. The Fibonacci levels near Wave B are worth paying attention to – particularly the 0.5 and 0.618 marks, which could act as support.
The Fibonacci extensions point to two key price targets for Wave C: $19.497 and $23.116. These line up nicely with the resistance levels mentioned in the tweet, which makes the prediction more compelling.
Uniswap Market Sentiment
Volume and market sentiment play key roles in UNI’s price trajectory. AltcoinView emphasized that a breakout above the $15.44 to $16.45 range must be accompanied by substantial trading volume to confirm bullish momentum.
Without sufficient volume, a false breakout could lead to renewed downward pressure. Broader market trends within the crypto sector will also impact UNI’s price movement, as external factors often dictate market behavior.
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UNI Price Projections
AltcoinView’s analysis provides two potential scenarios for UNI. If the cryptocurrency sustains its momentum and breaks past $16.45, higher targets of $19.497 and $23.116 become achievable.
Conversely, failure to maintain support at $10.909 could lead to a drop toward $6.60, where buyers might re-enter the market. These scenarios highlight the importance of monitoring key levels and market conditions.
As traders watch UNI’s price action, the coming days will determine whether it can continue its bullish journey or face renewed challenges.
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