Uniswap (UNI) Price Jumps 10% In The Past Week, Here's How It Could Reach $13

The Uniswap price appears to be recovering nicely after a disappointing performance at the beginning of the year. The DeFi token rallied past the $10 mark in the final hours of Friday, February 14, reflecting the improving climate of the general crypto market.

The price of Uniswap (UNI) has seen a slight recovery after a disappointing performance at the beginning of the year. The DeFi token rallied past the $10 mark in the final hours of Friday, February 14, as the broader crypto market showed signs of improvement.

Uniswap Price Up 3% In 24 Hours, Could Hit $13 Soon

The UNI token benefited from the market bullishness on Friday evening, pushing its price to around $10.18 at the time of writing, marking a 3% increase over the last 24 hours. This single-day performance contributed to a double-digit gain for Uniswap in the past week, showing a nearly 11% rise, as per data from CoinGecko.

While things are looking up for the altcoin on shorter timeframes, its performance on broader timescales remains concerning. The recent drop below the $8 level has left UNI down by almost 15% in the last two weeks and 30% over the past month. However, the Uniswap price seems to be preparing for a bullish breakout over the next few days.

In a February 14 post on the X platform, renowned crypto analyst Ali Martinez shared an exciting bullish outlook for the UNISWAP price in the coming days. The crypto pundit suggests that the DeFi coin could travel as high as $13 following the potential bullish breakout.

The basis for this optimistic prediction is the formation of the Adam & Eve pattern on UNI’s hourly price chart. The Adam & Eve pattern is a technical analysis formation defined by two distinct troughs (price swing lows).

The first depression, Adam, is a sharp V-shaped dip, while the second trough, Eve, is marked by a more rounded, U-shaped bottom. This price formation is often a reversal indicator, suggesting a potential shift in market sentiment from bearish to bullish.

But most importantly, after identifying an Adam and Eve pattern, it’s crucial to wait for the confirmation of a bullish breakout. The bullish setup is validated once the asset's price breaches and successfully closes above its highest high.

In UNI’s current scenario — as depicted in the highlighted chart — the important level to confirm the bullish breakout is around the $10.1 mark. A successful close above this level, as per Martinez, could pave the way for a Uniswap price rally to $13 — about 30% from the current price point.