A popular crypto analyst has shared a bullish outlook on Uniswap (UNI) hinged on the digital asset flipping a key resistance.
USDT dominance has been on a decline suggesting that investors are increasingly seeking Bitcoin and other altcoins.
Popular crypto analyst Rekt Capital has shared his views on Uniswap (UNI) and the next step in its price development. UNI, which fuels the leading decentralized exchange (DEX) Uniswap, is on the verge of a breakout according to the analyst. UNI looks poised to flip a key resistance around $7. This resistance will be established as support, marking a trend reversal for the altcoin.
Posting on his X account, the analyst stated;
Uniswap is on the cusp of a breakout from this macro market structure. Needs to break the top of this pattern and reclaim it as support to enter a new macro uptrend.
This is encouraging for investors who have seen UNI’s price stall slightly above the analyst’s diagonal resistance. At the time of press, UNI is trading at $6
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