![\"Price](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2021\/12\/28023414\/uniswap-logo-02.jpg\"){kind=logo}
<\/div>\nPublished 8 hours ago <\/p>\n
The Uniswap (UNI)<\/a> market price has doubled since last month and is currently trading at $6.99. Furthermore, the altcoin has recently triggered an inverted head and shoulder pattern with a $6.5 resistance breakout. Thus, the expected retest to the breached resistance should give an entry opportunity for interested traders.<\/span><\/p>\n For the past two months, the UNI<\/a> buyers struggled to breach the $6.5-6.1 supply zone, resulting in a range-bound rally. However, the consolidation shaped into an inverted head and shoulder pattern and offered a recovery opportunity for coin holders.<\/span><\/p>\n On July 14th, the UNI\/USDT pair gave a decisive breakout from the $6.5 neckline resistance and a massive volume pump. This increasing volume reflects the buyer\u2019s commitment to a legitimate recovery rally.<\/span><\/p>\n Today, the UNI price is down 0.43% and is expected to retest the breached resistance. Furthermore, if buyers could sustain the altcoin above the $6.5 mark, the market price should soar 14% to the $8 psychological resistance.\u00a0<\/span><\/p>\n If buying pressure persists, the altcoin may slice through the $8 resistance as well.<\/span><\/p>\n<\/blockquote>\n On a contrary note, If the UNI price fails to show sustainability during the retest phase, the sellers may pull it below the $6.5-6.1 support.<\/span><\/p>\n The daily EMAs 20, 50, and 100 offer significant input during the past eight months\u2019 downtrend, providing dynamic resistance to UNI price. However, the recent price recovery has reclaimed these EMA and is expected to offer a possible support level.<\/span><\/p>\n Since the recent consolidation phase, the RSI slope has been rising steadily, hinting at the growth in bullish momentum. However, the currently bearish divergence in its peak favors a retest phase.<\/span><\/p>\n \nFrom the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com\n<\/p>\n<\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\nKey points:<\/span><\/h2>\n
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![\"UNI\/USDT](\"https:\/\/s3.tradingview.com\/snapshots\/2\/2xe6EBkT.png\")
Source-<\/span>Tradingview<\/span><\/p>\n\n
Technical indicator<\/span><\/strong><\/h2>\n
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