Uniswap (UNI) Inverted H&S Pattern Hints a Bull Rally Targeting $15 As Daily Trading Volume Spikes

Uniswap's daily trading volume has seen remarkable fluctuations throughout 2024, peaking notably in early September when it briefly surpassed $8 Billion.

Uniswap (UNI) price action saw significant peaks in daily trading volume, hinting at heightened market activity and the possibility of a substantial price move.

A closer examination of the UNI chart reveals the formation of an inverted head and shoulders pattern, a classic bullish indicator in technical analysis.

This pattern, often observed in the context of a trend reversal following a downtrend, suggests that UNI may be setting the stage for a significant rally.

The critical point of interest for UNI currently rests at the neckline of this pattern, which is situated around the $9.86 price level.

A decisive close above this resistance could propel UNI towards the $12 to $15 range.

The completion of this pattern is further reinforced by a remarkable increase in volume.

Moreover, the psychological resistance at $10.00 may serve as a pivotal marker for traders.

Breaking this level could further confirm the bullish momentum, driving more traders and investors into the market, and potentially leading to a rapid ascend toward the $15 target.

This chart analysis indicates that if Uniswap price maintains its current trajectory and breaks through key resistance levels, a new price high could very well be on the horizon, supported by solid trading volumes and market sentiment.