Uniswap [UNI] price prediction – Traders, expect THIS after altcoin’s 14% hike! – BitRss

• Uniswap retested key resistance levels as bullish indicators pointed to a potential breakout
• Market sentiment has been aligning positively with reduced selling pressure and Open Interest

Uniswap [UNI] has grabbed the market’s attention with its sharp price movement and the uptick in its network activity, raising speculation about its long-term bullish potential in the DeFi landscape. At press time, UNI was trading at $14.60, following daily gains of 14.33%.

This price rally, coupled with growing user engagement, hinted at renewed momentum. However, can Uniswap sustain its upward trajectory?

Price action signals potential breakout

Uniswap’s price charts revealed a clear upward trend, with UNI retesting the key resistance at $17.12 while holding firm support at $12.60. Indicators such as the Average Directional Index (ADX) at 39.72 pointed to a strong trend, while the Moving Average Convergence Divergence (MACD) underlined a slight bearish divergence. 

However, the overall bullish sentiment persists, with predictions pointing to a potential breakout towards $20. If UNI breaches this resistance convincingly, it could signal the start of a sustained bull run.