Uniswap (UNI)

With a bullish reversal from the $5.368 support level, the Uniswap token is back in action. The DeFi token has increased by 29% in the last 18 days. The reversal rally surpasses the 23.60% Fibonacci level at $6.487.

Currently, the uptrend is challenging the confluence of the 50-day exponential moving average and the 38.20% level at $7.294. With a rounding reversal, the underlying momentum showcases a potential trend reversal.

Furthermore, the DMI indicator supports the bullish narrative with a potential crossover in the VI lines. However, the downtick in the ADX line reveals a weakness in trend momentum.

Considering the uptrend continues, the Uniswap token price can challenge the 50% line at the $8 resistance level. Optimistically, the uptrend shows potential to reclaim the $10 psychological mark at the 78.60% level.$UNI