Uniswap’s native token (UNI) is showing signs of potential breakout momentum following a strong performance across multiple timeframes.
Overall, the cryptocurrency has posted impressive gains, with data showing increases of 3% in 24 hours, 21.1% over seven days, and a substantial 73.7% yearly return.
Uniswap Potential Breakout
According to analysis from Rekt Capital, UNI has demonstrated remarkable strength after successfully retesting the critical $7.21 Range Low support level.
This retest is characterized by downside wicking (marked by a green circle in the analysis) and has served as a trigger for the recent rally.
Even though the token is positioning itself for a potential breakout from its current range, the analyst stated that confirmation remains pending.
What Should UNI Do To Confirm a Breakout?
For a confirmed breakout on the monthly timeframe, UNI needs to:
Secure a monthly close above the $8.36 range high resistance
Successfully retest this level as support.
We współpracy z: https://www.thecoinrepublic.com/2024/11/10/what-uniswap-uni-needs-to-kickstart-potential-breakout/
