Uniswap

Bitcoin

<ul> 
 <li>Uniswap (UNI) shows potential for further price increases.</li> 
 <li>Technical analysis by crypto trader Ali reveals bullish formations on daily and 4-hour charts.</li> 
 <li>UNI has been in a descending triangle since May, with decreasing selling pressure.</li> 
</ul> 
<p><a href="https://thenewscrypto.com/?s=uniswap" target="_blank" rel="noreferrer noopener">Uniswap</a> native token, UNI, looks poised for additional upside after breaking out of key chart patterns, according to recent technical analysis by crypto trader Ali.</p> 
<p>In a <a href="https://twitter.com/ali_charts/status/1721777685431541898" target="_blank" rel="noreferrer noopener">tweet</a>, Ali highlighted bullish formations on both Uniswap’s daily and 4-hour price charts that point to a target of around $6 for UNI.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw">#Uniswap</a>'s bullish momentum is heating up! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>On the daily chart, <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a> is eyeing the hypotenuse of a descending triangle, targeting around $6. Plus, the four-hour chart reveals <a href="https://twitter.com/hashtag/UNI?src=hash&amp;ref_src=twsrc%5Etfw">#UNI</a> breaking out of a bull flag, aligning with the $6 target.<br><br>Ready to trade <a href="https://twitter.com/hashtag/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw">#Uniswap</a>? Join us at… <a href="https://t.co/93HWJ9ivlg">pic.twitter.com/93HWJ9ivlg</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1721777685431541898?ref_src=twsrc%5Etfw">November 7, 2023</a>
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<p>On the daily timeframe, UNI is pressing up against the hypotenuse of a descending triangle dating back to May that has repeatedly rejected advances. Decreasing selling pressure indicates waning bearish strength. A decisive break above this triangle could trigger a rapid move upwards based on the measured target.</p> 
<h2 class="wp-block-heading" id="uniswap-breaking-out-in-the-4-hour-chart">Uniswap breaking out in the 4-hour chart</h2> 
<p>Additionally, the 4-hour chart shows UNI recently breaking out of a smaller bull flag pattern. This bullish continuation formation also projects a measured move to approximately the $6 level.</p> 
<p>Bull flags are considered high-probability continuation patterns. Uniswap currently trades around $4.84 after retreating slightly from local highs. Reclaiming the key $5.15 resistance could open the door for UNI to retest the September highs around $6.07.</p> 
<p>UNI’s upside comes amidst broad crypto market gains attributed to optimism for a potential Bitcoin spot ETF approval in early 2023. The ETF anticipation has fueled an increased risk appetite.</p> 
<p>With Uniswap usage and volumes rising thanks to the layer-2-focused Uniswap Pro, Ali’s analysis provides a clear roadmap for traders looking to play UNI’s developing bullish momentum. A triangle resistance breakout could confirm the upside case.</p>

Uniswap Price Eyes $6 as Bullish Chart Patterns Emerge

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