Summary
TLDR: Uniswap (UNI) price reached a two-year high of $12.85, broke out above resistance levels, and the RSI supports an upward movement. Technical analysis suggests UNI is in wave three of a five-wave upward movement, with a potential increase to $16.10. Failure to break $12.10 could lead to a 30% drop to $7.80.
Key Points
1. The Uniswap (UNI) price reached a two-year high of $12.85 on February 24 but has fallen slightly since.
2. UNI broke out from long-term horizontal and diagonal resistance levels during the upward movement.
3. The weekly time frame technical analysis shows that UNI has increased since October 2023, when it bounced at a long-term horizontal support area.