Uniswap Price Set for Breakout as Bullish Flag Pattern Targets $10.84
The post Uniswap Price Set for Breakout as Bullish Flag Pattern Targets $10.84 appeared on BitcoinEthereumNews.com.
Uniswap (UNI) is currently shaping up for a potential breakout after forming a Bullish Flag pattern on its 30-minute chart. The consolidation phase following a sharp upward movement has set up a key breakout point, and analysts are targeting a price of $10.84. With strong technical signals and increasing volume, the market is primed for a move higher, but traders are awaiting confirmation of a break above the resistance line. Bullish Flag Pattern Points to Upside Potential The formation of the Bullish Flag on Uniswap’s 30-minute chart suggests that the price is preparing for a continuation of its previous rally. The pattern is characterized by a sharp price increase followed by a downward drift, forming a rectangular consolidation range. This consolidation is contained by two parallel trendlines, and a breakout above the upper trendline is expected to push the price higher. The target for this breakout is estimated at $10.84, which aligns with a natural extension of the pattern. Source: X Volume data accompanying this pattern shows that it has been gradually decreasing during the consolidation phase, which is typical of a flag pattern. This decline in volume during the price pullback indicates that there is no significant selling pressure at these levels. As the price tightens within the flag, it suggests that buying interest is gradually increasing. A breakout accompanied by a surge in volume would further confirm the bullish outlook, potentially sending UNI toward its target at $10.84. Volume Activity and Resistance at $9.80 Despite the bullish flag pattern, the 24-hour chart for Uniswap reveals a more cautious price action in the short term. Over the past 24 hours, UNI dropped 4.17%, retreating from $9.91 to $9.51 before recovering slightly to $9.64. This price action suggests that the token is consolidating below the $9.80–$10.00 resistance zone. While the…
Filed under: News - @ August 6, 2025 11:23 pm