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In a fresh post shared on X, crypto analyst First1Bitcoin drew attention to Uniswap’s (UNI) recent market behavior, noting that the token appears to be gaining strength following an extended period of sideways movement. According to the analyst, this prolonged accumulation phase may be setting the stage for a significant breakout.
The chart, as highlighted in the post, is beginning to show encouraging signs of bullish pressure. With price tightening near key resistance levels, the conditions appear ripe for a potential upward surge, provided that buying momentum continues to build.
Key Technical Levels In Sight As Uniswap Gathers Strength
First1Bitcoin highlighted several critical technical levels that could shape Uniswap’s next major move. He noted that the current price of UNI moved back $6.83, reflecting a market that’s gradually gathering momentum after a prolonged period of consolidation.
The analyst placed strong emphasis on two critical price levels that could shape UNI’s trajectory in the coming weeks. The first breakout target is set at $12, a level that stands as both a psychological barrier and a technical milestone. If Uniswap breaks above this zone, it could ignite fresh bullish sentiment and potentially mark the beginning of a sustained upward move.
However, the real test comes at the $15 – $16 resistance zone, which the analyst described as a major obstacle. A move into this region could trigger heightened volatility, as many traders may look to secure profits while others gauge the strength of buyer conviction.
Importantly, Uniswap remains below its long-term downtrend line, which has acted as a ceiling for upward movement over the past several months. A breakout above that trendline could change the game entirely, opening the door for a much larger rally.
Momentum Builds On A Firm Foundation
In his concluding statement, the analyst emphasized growing optimism surrounding UNI’s price action. He noted that the accumulation base, where buyers have been steadily building positions, continues to hold firm, acting as a solid foundation for potential upside movement. This resilience suggests that sellers are losing control, and the market may be primed for a bullish shift.
He further highlighted early signs of bullish momentum, with improving technical indicators and price stability suggesting increasing buying interest. This momentum, combined with the prolonged consolidation phase, often precedes a significant breakout.
“Watch this zone closely,” the analyst advised, hinting that UNI could be on the verge of a strong rally. If the token maintains its current support and gains upward traction, it may break through key resistance levels and initiate a meaningful uptrend in the sessions ahead.
Featured image from Pngtree, chart from Tradingview.com
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