fxstreet.com 05 Feb, 2021 15:30 am

UNI flirts with another breakout that could see it rise nearly 20%

Uniswap market value has skyrocketed by nearly 300% since the beginning of the year. Although UNI has remained stagnant throughout February, it may be

Uniswap price continues to consolidate after enduring a parabolic advance over the past last month.Uniswap price prepares to resume bull rally The DeFi token is currently trading inside an ascending triangle that formed on its 4-hour chart.By measuring the height of the triangle's y-axis and adding it to the breakout point at $21, it seems like Uniswap price is primed for a 20% upswing.A massive demand wall IntoTheBlock's In/Out of the Money Around Price (IOMAP) model shows little to no resistance above the current price level that may prevent Uniswap price from advancing further.

' UNI IOMAP chart Regardless, it would be disastrous for Uniswap price to slice through the $19.Uniswap market value has skyrocketed by nearly 300% since the beginning of the year.

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