UNI price shows a bullish breakout of the inverted head and shoulder pattern teasing a potential bull run exceeding the $8 mark. Key technical points: UNI prices have jumped by 8.55% in the last 24 hours. The bullish breakout propels the market value above the $6 mark. The 24-hour trading volume of Uniswap is $168 Million, indicating a rise of 18%. Past Performance of UNI As mentioned in our previous analysis, the increased buying pressure propels the UNI prices higher above the $6 mark. In doing so, the price action completes the inverted price action and shows a bullish breakout. The bullish rally accounts for a price jump of 28% in the last week and prepares for positive growth ahead. Source- Tradingview UNI Technical Analysis The UNI price action shows the breakout rally gaining momentum as the engulfing candle sustains above the $6 mark. Hence, traders can expect the bull run to continue over the upcoming week. The MACD indicator shows an uptrend in the fast and slow lines, crossing above the zero line to enter the positive zone. Moreover, the MACD histograms resurface as the buyers avoid a bearish crossover reflecting an increase in the buying pressure. The RSI indicator shows a phenomenal growth in the underlying bullishness as the gradually rising RSI slope prepares to enter the overbought zone. Hence, the indicator displays a high likelihood of a breakout rally surpassing the $8 mark. In a nutshell, the UNI technical ...
