As the week draws to a close, the market sentiment is gradually shifting in favor of the bulls. While the top 10 cryptocurrencies remain range-bound, altcoins like Uniswap have triggered a bullish breakout. The UNI price has soared above $10, reaching a new monthly high of around $10.8. This move has validated a fresh DeFi boom, with the market capitalization rising despite a significant drop in trading volume.

The approval of the spot Ethereum ETF has seemingly flipped the market sentiment in a bullish direction. After a few altcoins made bullish moves, Uniswap's price gained significant strength and broke out above the psychological barrier of $10. This breakout signals the beginning of a fresh bullish spell that could lead to a rise of nearly 25%, potentially pushing the price above $13.5.

If this upward trend continues in the coming days, can the bulls propel the price even higher, potentially reaching levels above $15?

The current trading setup suggests that Uniswap's price is undergoing a parabolic recovery, and the latest upswing is expected to elevate the levels by more than 15%, reaching the initial resistance at $13.5. Additionally, the Ichimoku cloud has displayed the end of the bearish phase, with the levels about to validate a bullish crossover. Furthermore, the stochastic RSI is stuck within the upper range, indicating that the ascending trend could persist for some time.

As the UNI price rally gains momentum, it is anticipated to test higher targets in the coming days, possibly surpassing $20. The current market sentiment and trading setup have also attracted the attention of whales, who have been accumulating UNI and Uniswap heavily over the past month. This increased buying pressure has substantiated the bullish claim and increased the likelihood of reaching new highs for the prevailing trend.