The cryptocurrency market experienced a significant surge earlier this week, but most major coins failed to sustain the momentum, indicating a lack of bullish conviction. However, Uniswap's price showed remarkable resilience, rallying for three days to reclaim the $10 mark. Here are three reasons why Uniswap's price recovery may surpass $20.

Firstly, Uniswap has achieved a significant milestone, reaching $300 billion in Layer 2 (L2) volume in record time. This impressive growth trajectory and adoption across the decentralized finance (DeFi) ecosystem are likely to attract a broader audience and increase demand for UNI tokens. Secondly, despite the recent sell-off, Uniswap holders are largely in profit, with 51% of holders in the green. This suggests a stable investor base and reduced possibility of panic selling, which could lead to further rallies. Finally, an analysis of the daily chart shows a bullish reversal pattern, hinting at a major reversal. If the current momentum persists, Uniswap's price could breach the overhead neckline resistance and target a high of $24.

In conclusion, Uniswap's price recovery has shown notable strength, and these three factors suggest that the UNI token could lead a rally above $20. As the DeFi ecosystem continues to grow and Uniswap's adoption increases, the potential for a massive comeback becomes more likely. With a stable investor base and bullish reversal pattern in play, Uniswap's price may soon surpass $20 and reach new heights.