Uniswap (UNI) Eyes $13 Breakout as Bullish Adam & Eve Pattern Emerges
- Uniswap surgd pst $10 on Fbrury 14 ftr sluggish strt, signling rnwd strngth.
- Anlyst Ali Martinez prdicts UNI could hit $13 soon, supportd by n Adam & Eve pattern.
- Anothr nlyst ss possibl brkout to $19, but filur my ld to $6-$4 support zons.
Uniswap hs bn on rcovry pth ftr sluggish strt to th yr. Th dcntrlizd finnc (DFi) tokn climbd bov $10 in th closing hours of Fbrury 14, indicting rnwd strngth in th crypto mrkt. This upwrd movmnt follows brodr rlly tht liftd svrl ltcoins. Howvr, dspit rcnt gins, UNIs ovrll prformnc rmins shky du to prvious downturns.
A rcnt dip blow $8 lft UNI struggling, cusing 7.4% loss ovr th pst two wks nd shrp 33.92% dclin in th pst month. Whil ths numbrs ris concrns, som nlysts s n opportunity for brkout. Crypto xprt Ali Martinez blivs th DFi tokn is poisd for strong bullish movmnt in th coming dys.
In post on Fbrury 14, Martinez shrd his optimistic outlook, stting tht Uniswap could rch $13 soon. His nlysis hings on th prsnc of wll-known bullish pttrn forming on th UNI pric chrt. If th mrkt conditions lign, substntil rlly could b on th horizon.
Adam & Eve Pattern Points to a Breakout
Martinezs prdiction is bsd on th Adam & Eve pattern visibl on UNIs hourly chrt. This tchnicl formtion consists of two distinct pric troughs. Th first, Adm, is shrp V-shpd drop, followd by Ev, mor roundd U-shpd dip. Trdrs oftn intrprt this pttrn s signl for trnd rvrsl, hinting t shift from brish to bullish sntimnt.
Howvr, confirming th brkout rmins crucil. For Uniswap, th ky lvl to wtch is $10.1. A succssful clos bov this rsistnc could vlidt th bullish stup, potntilly pushing th pric to th $13 mrk. At prsnt, UNI trds t $9.91, nding 31.18% surg to rch th trgt.
Mnwhil, nothr nlyst, CW, suggstd in Fbrury 13 post tht UNI might brk out from flling wdg pttrn, formtion oftn linkd to trnd rvrsls. CWs nlysis points to brkout scnrio with n initil trgt of $19, mtching prvious high.
Can Uniswap (UNI) Maintain Its Upward Momentum?
Volum nlysis furthr supports th bullish cs, with incrsing buying intrst ppring on th chrts. If UNI sustins momntum bov th wdg nd clrs ky rsistnc zons, it could sprk rlly towrd th projctd $19 trgt. This would mrk significnt rcovry from its rcnt lows.
Howvr, risks rmin. Should UNI fil to hold its brkout, pullbck could b imminnt. Anlysts idntify support zons btwn $6 nd $4, rs whr buying ctivity prviously prvntd furthr dclins. A rjction t rsistnc might ld UNI bck to ths lvls bfor nothr ttmpt t brkout.
For now, ll ys r on whthr Uniswap cn solidify its bullish pttrn nd push pst rsistnc. With mrkt sntimnt improving, mov towrd $13 sms incrsingly plusibl, but invstors rmin cutious bout potntil stbcks.
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Read more: https://www.tronweekly.com/uniswap-adam-eve-pattern-hints-at-30-target/
Text source: TronWeekly
