Uniswap (UNIUSD) broke yesterday above its 1D MA200 (orange trend-line) for the first time since July 03 but failed to close above it. The reason is the presence there of another strong Resistance level, the Lower Highs trend-line started on the March 06 High.
Those two form the ultimate Resistance cluster and only a 1D candle close above both can confirm the start of a new long-term rally. Technically the pattern is a Channel Up since late 2022 and a new rally would be its Bullish Leg.
The previous Bullish Leg rose by +337.70% so if we get that closing confirmation, we will turn bullish again, targeting a Higher High at $20.000 (just below the +337.70% mark).
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