Can UNI's $33B DEX Volume Spark Uniswap Price Rally Toward $10?

Uniswap (UNI) solidified its position as the leading decentralized exchange (DEX) in September 2024, capturing a 70% market share.

Uniswap (UNI) price encountered a roadblock at $7.86 during the recent recovery rally, forming an interesting technical pattern. As the DEX coin fiyatı rebounds from a lower trendline, here’s what traders can expect next.

Uniswap Price Chart Forms Inverted Flag Pattern

Uniswap (UNI) price showcased a remarkable recovery from the lows of $4.7, surging over 67% to hit highs of $7.86 in the last two months. Interestingly, this recovery was neatly contained within two converging trendlines, forming an inverted flag pattern.

After a brief consolidation at the lower boundary, the UNI price perked up with an intraday gain of 2.3%, signaling a potential reversal from the support trendline. This bullish momentum could propel the asset up by 22%, challenging the overhead trendline at $8.2.

A convincing breakout from this resistance might accelerate the recovery further, pushing the asset up to $8.6 and eventually to the psychological level of $10. However, a failure to break through the lower trendline could lead to increased selling pressure, extending the correction to $7.

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