Cup-and-handle pattern breakout triggers a bullish reversal in the UNI coin price while aiming for a bull run above the $20 mark.

Uniswap is a popular decentralized trading protocol known for its role in facilitating the automated trading of decentralized finance (DeFi) tokens. 

Since the Uniswap launch on the Polygon network, there has been an increase in the network's activities on the blockchain. Moreover, 99.3% of holders voted in favor of the plan to bring Uniswap 3.0 to Polygon.

In addition, a $20 million investment was made to help launch Uniswap within the Polygon network. This helped fuel the bullish story of UNI coin prices. As whales continue to accumulate, analysts are predicting that prices will rise.

Let us read ahead to know more about Uniswap token technical analysis.
<h2>Past Performance of UNI</h2>
The UNI coin price breaks above the cup-and-handle pattern in the daily chart. The <a href="https://www.cryptoknowmics.com/news/uni-technical-analysis-falling-trend-in-long-horizon-watch-few-trading-sessions-to-seek-direction/">credit</a> for the breakout goes to demand found near $14, resulting in a bullish reversal and a price jump of more than 30%. 

Therefore, traders can shortly observe a price jump if UNI breaks above the horizontal level at $20.

<img src="https://s3.tradingview.com/snapshots/x/XXgHOkgA.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/XXgHOkgA/">UNI/USD Daily Chart</a>
<h2>UNI Technical Analysis</h2>
The cup-and-handle breakout increases the bullish attention of traders for the UNI coin. Moreover, the bullish engulfing candle completes a morning star pattern. 

Therefore, once the price breaks above $20, we can observe a bull run to the next prominent levels at $25 or $30. However, if the price fails to rise above $20, a retracement to $17.5 is possible.

The crucial EMAs - 50, 100, 200 in the daily chart show a bearish alignment and the 50 days EMA provides dynamic resistance to the recent recovery to $20.

The RSI indicator, at 57% in the daily chart, rises higher after testing the central line and continues to move towards the overbought zone. Moreover, the slope sustains above the 14-day SMA reflecting a positive alignment.  

The MACD indicator shows a bullish continuation in the MACD line and the signal line after the bullish crossover. Moreover, the lines can shortly break above the zero mark, which can provide an extra edge for bullish traders.  
<h2>Upcoming Trend</h2>
The future trend of UNI coin price depends upon the psychological barrier of $20. Breakout of the barrier will lead to a possible bull run, but the failure will result in a retracement to $17.5. However, the price action and the technical indicators showcase a rise in the underlying bullishness. Moreover, the current price provides a decent risk-to-reward ratio considering the bull run possibility.

UNI Technical Analysis: Bullish Reversal Brings Pattern Breakout

Cup and handle pattern breakout triggers a bullish reversal in the Uniswap (UNI) coin price while aiming for a bull run above the $20 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

UNI Technical Analysis: Bullish Reversal Brings Pattern Breakout

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