$UNI

Trends have reversed to Uptrend. We wait for price to break out of a Rising Wedge pattern, ideally above $8.35 horizontal resistance and 200-day moving average, which would signal resumption of uptrend with +20% potential upside to $10 thereafter.Uniswap is the biggest DEX – see On-chain data, and has been a beneficiary of the move to decentralized exchanges and non-custody trading solutions.

Patterns: Rising Wedge usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout.

Trend: Short-term trend is Strong Up, Medium-term trend is Up, Long-term trend is Neutral.

Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).

Support and Resistance: Nearest Support Zone is $5.60, then $4.80. Nearest Resistance Zone is $8.35, then $12.00.