UNI’s price shows promising signs of a potential breakout, as observed in a descending channel pattern. Prominent analyst World Of Charts shared on X (formerly Twitter) a bullish setup amidst lower market volume during the holiday season. With UNI hovering around a critical resistance level, traders remain cautious but optimistic about a 15% upward move.
Uniswap Chart Analysis
UNI’s price keeps bouncing between two downward lines on the chart. It hits the bottom line and bounces up, then hits the top line and drops back down. Right now, it’s pushing against the top line around $15.60-$15.70.
If it breaks past $15.70, it could start climbing fast and head up toward $18.00. That’s about 15% higher than where it is now. Breaking through would mean the downward pattern is over and things might turn around. Watch the trading volume – if it picks up during the break, that’s a good sign.
Image Source: X/WorldOfCharts Support and Resistance Levels Hold the Key
UNI’s price has shown strong buying interest near the horizontal support zone of $14.80–$15.00. This level has acted as a buffer during recent sideways trading activity. The breakout resistance level, however, lies near $15.60–$15.70, where the price has struggled to close decisively above.
Failure to hold support could send the price back toward the lower trendline near $14.20–$14.40. If that happens, the descending channel pattern would persist, and sellers may regain control.
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Volume Drop and Lower-Risk Strategies
World Of Charts noted in his tweet that the holiday season typically leads to reduced trading volume and sideways market movement. He emphasized a lower-risk approach during this period, focusing on smaller timeframes and accumulating positions selectively. The analysis aligns with UNI’s recent consolidation phase, where the price moved sideways between December 16–18.
He also mentioned plans for dollar-cost averaging (DCA) into altcoins if suitable opportunities arise. This cautious strategy reflects trader sentiment during uncertain market conditions.
With a clear breakout attempt underway, UNI’s price is at a pivotal point. A successful close above $15.70 could signal the start of a bullish trend targeting $18.00. Traders are advised to monitor both volume and price action closely to confirm the move. Alternatively, failure to break out may lead to further consolidation or a retest of support zones.
As the holiday season continues, reduced market volume may influence price movements, making short-term trades a focal point for many participants.
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