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Cryptocurrency News Articles
Uniswap (UNI) Price Aligning with Analyst’s Prediction, Potential 250% Rally Incoming
Nov 28, 2024 at 07:15 am
Popular crypto analyst World of Charts has highlighted the price trajectory for Uniswap, noting that his previous predictions are unfolding according to plan.
(March 23): Cryptocurrency exchange token UNI has shown promising price performance in recent times, attracting attention from traders and investors alike. Now, a popular crypto analyst is highlighting the next price trajectory for Uniswap (UNI), suggesting that his previous predictions are unfolding as anticipated.
The analyst, known as World of Charts, has been closely tracking UNI’s price movements, aiming to identify key technical patterns and formations that could influence the token’s future direction. His analysis has already helped investors capitalize on over 50% profits in UNI, based on his previous analysis.
As World of Charts examines UNI’s price chart, one critical technical development stands out—the token’s successful breakout from a symmetrical triangle pattern that formed between 2021 and 2024. This particular pattern emerged through a consistent series of lower highs and higher lows, creating a consolidation phase that has now resolved bullishly.
The analyst highlights the weekly timeframe analysis against USDT, where the breakout signal manifests most clearly. This technical breakout, according to the analyst, could catalyze a substantial mid-term rally, projecting potential gains between 200% to 250%.
Breaking down the numbers, the analyst’s forecast suggests UNI price could target price levels between $45 and $55, considering its current position of around $15.5. However, he also acknowledges the historical resistance at $41.5, which could serve as a significant level to watch.
On the lower end of the spectrum, the analyst identifies the $11 mark as a crucial support level, which also coincides with the breakout point. Maintaining this level is essential for preserving the bullish market structure, as highlighted by the analyst.
While World of Charts’ analysis aligns with broader market optimism, it implicitly acknowledges that sustained momentum would depend on broader market conditions and fundamental factors. However, based on current technical indicators and price action, the analyst appears confident in UNI’s potential to achieve these ambitious mid-term targets.
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