UNI coin price breaks above the long-coming downtrend and the $10 mark with a 30% rally. Will the uptrend sustain to reach the $15 mark?

Key technical points:
<ul>
 	<li style="font-weight: 400">UNI coin price breaks above the long-coming resistance trendline.</li>
 	<li style="font-weight: 400">In addition, the price surpasses the 50-day EMA.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Uniswap is $245 Million, marking a 25% fall. </li>
</ul>
<h2>Past Performance of UNI</h2>
UNI coin price shows a double bottom breakout-led bullish reversal from the $8 support level resulting in a price jump of 30%. The rally breaks above the long-coming resistance trendline marking a bullish milestone after a fatal downtrend. Moreover, it surpasses the 50-day EMA, which has provided a constant dynamic barrier. 

 <img src="https://s3.tradingview.com/snapshots/n/NC2Gxh0B.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/NC2Gxh0B/">Tradingview</a>
<h2>UNI Technical Analysis </h2>
UNI coin price shows a retest phase of the trendline and the $10 breakout with a dragonfly candle of 1.92% retracement. Hence, a post-retest reversal rally may start shortly that may surpass the 100-day EMA.

Uniswap token rally challenges the bearish aligned EMAs and outperforms the 50-day EMA while ready to approach the 100-day EMA. However, a potential rise to the 200-day EMA is possible with the $12.5 breakout.

RSI Indicator: The RSI slope starts a remarkable journey with the bullish divergence generated at the $8 bottom. The rally approaches the overbought boundary and reflects a boom in buying pressure.

MACD Indicator: The MACD and signal lines continue the bullish uptrend by undermining two bearish crossovers. Hence, the positive histograms continue to grow despite a few bearish dips.

In brief terms, the UNI technical analysis shows a potential trend reversal possibility.
<h2>Upcoming Trend </h2>
UNI coin price gains bullish attention with the long-coming resistance and the $10 breakout that may result in a bullish rally. Post-retest, the rally aims at $12.50. A firmer bullish grip could drive the prices higher to the 200-day EMA closer to $16. Hence, the rally shows a 20-45% price jump potential. 

However, price succumbing under the 50-day EMA will rectify the rally and result in a downtrend to the $8 mark.

Support Levels: $10 and $8

Resistance Levels: $12 and $16

UNI Technical Analysis: Trendline Breakout Eyes 20% Jump

UNI coin price breaks above the long-coming downtrend and the $10 mark with a 30% rally. Will the uptrend sustain to reach the $15 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: Trendline Breakout Eyes 20% Jump

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