Uniswap's native cryptocurrency, UNI, has broken out above $10, signaling a strong bullish trend. The price chart shows a golden cross pattern, indicating potential for further gains. The RSI stands at 52.68, allowing room for additional price movements.

Despite the broader crypto market experiencing consolidation, UNI has given a strong breakout. The current price is trading 8.8% up at $10.68, with a market cap of $6.4 billion. However, daily trading volumes have dropped by 25%, moving to $262 million.

Golden Cross Pattern and Technical Analysis

The golden cross pattern on Uniswap's charts indicates a strong recovery from lower levels. This pattern forms when the 50-day moving average surpasses the 200-day moving average. The recent price movements show a strong Uniswap price recovery, making it bullish in the short term.

The RSI currently stands at 52.68, neither overbought nor oversold, leaving room for additional price movements. Additionally, the majority of Uniswap holders (51%) are incentivized to hold on for some more time before resuming profit booking.

Will the Uniswap Price Rally Continue?

Currently, the Uniswap price is moving in a channel pattern. If the broader crypto market gains momentum, UNI can extend its rally to the upper resistance of the channel pattern, reaching $13.15 by the upcoming week. If it breaks resistance, it can further rally to $15 and subsequently to $20.

However, if the trend reverses, Uniswap will lose momentum and test support at $9.90. If the bears continue to dominate, UNI can plunge further to $8.40 this month.

Recent Developments

Uniswap Labs recently acquired Crypto: The Game (CTG), aligning with its vision to make blockchain interactions enjoyable and accessible. This partnership will focus on advancing CTG's upcoming third season and introducing new interactive crypto experiences.