UNI, the governance token of the decentralized exchange Uniswap, has bucked the broader crypto market trend with a significant price surge, outperforming major cryptocurrencies.
TradingView’s data illustrate how UNI’s price surged while other top cryptocurrencies, including Bitcoin, trended downwards.
Notably, UNI bounced off support on June 12 in a classic reversal pattern, initiating a 5-day continuous rally, with the price consistently closing above its opening value. Uniswap gained over 37% during this period amid widespread pullbacks across the crypto market ecosystem.
Considering traditional chart patterns used for technical analysis, UNI’s recent surge reflects a break above the neckline of an inverted head-and-shoulders structure. This represents a classic bullish move that could trigger a potential rally and the next leg of a classic uptrend.
A closer observation shows Uniswap began the recovery move on May 1…
The post UNI Token Soars Amidst Wider Crypto Market Pullback appeared first on Coin Edition.
UNI, the governance token of the decentralized exchange Uniswap, has bucked the broader crypto market trend with a significant price surge, outperforming major cryptocurrencies.
TradingView’s data illustrate how UNI’s price surged while other top cryptocurrencies, including Bitcoin, trended downwards.
Notably, UNI bounced off support on June 12 in a classic reversal pattern, initiating a 5-day continuous rally, with the price consistently closing above its opening value. Uniswap gained over 37% during this period amid widespread pullbacks across the crypto market ecosystem.
Considering traditional chart patterns used for technical analysis, UNI’s recent surge reflects a break above the neckline of an inverted head-and-shoulders structure. This represents a classic bullish move that could trigger a potential rally and the next leg of a classic uptrend.
A closer observation shows Uniswap began the recovery move on May 1…
The post UNI Token Soars Amidst Wider Crypto Market Pullback appeared first on Coin Edition.