Uniswap remains on a steady upward path as bullish momentum fuels its push toward the $12.3 mark. After a successful rebound at the $10.3 support level, UNI has shown resilience, with buyers stepping in to sustain the rally. The strong price action reflects growing investor confidence, supported by rising trading volume and favorable technical indicators.
As bulls maintain control, Uniswap’s ability to hold above crucial support zones will be key to extending its gains. A successful move toward $12.3 could reinforce the uptrend, setting the stage for even higher targets if buying pressure continues to build.
UNI’s Price Momentum And Its Path To $12.3 Resistance Level
Evaluating UNI’s price momentum, further gains seem likely, especially following the strong rebound at the $10.3 support level. After a brief pullback, Uniswap found stability at $10.3, which has since acted as a solid base for a renewed upward movement.
This rebound signals the resilience of the bulls and reinforces the overall bullish trend. Significantly, the swift recovery above $10.3 reflects robust demand, indicating investors’ optimism about Uniswap’s future performance.
From a technical perspective, key indicators align with the bullish outlook. The price is heading toward the key 100-day Simple moving averages (SMA), suggesting continued upward pressure. In addition, the RSI has moved out of oversold territory, signaling that buying momentum is building.
Trading volume has also experienced an increase of over 25% in the last 24 hours, further confirming that market participants are backing the move higher. These factors combined create a positive environment for Uniswap to extend its rally.
What’s Next For Uniswap If $12.3 Is Reached?
Reaching $12.3 would be a significant milestone for Uniswap, with aims to break through from resistance. This would likely attract more buying interest, strengthening the ongoing bullish momentum.
A sustained move above $12.3 might drive the price toward even higher levels. UNI would enter new territory, increasing the potential for continued gains. Overall, this move could solidify Uniswap’s bullish outlook in the market.
Once $12.3 is breached, the next immediate resistance levels could be around the $15.7 and $17 zones, depending on market conditions and buying interest. If the price maintains upward pressure, it will trigger the continuation of the rally.
Holding above the $12.3 level is crucial for UNI to prevent a pullback. However, should the price fail to maintain this level, a retracement to nearby support zones like $10.3 would occur. In this scenario, defending these support levels will be essential for the bulls to regroup and aim for a renewed push toward higher levels.
Source: NewsBTC