The third quarter of the current year has commenced with a continuation of the rising trend in the cryptocurrency market, particularly for Ethereum (ETH) and Uniswap (UNI).
Current Positions of Ethereum and Altcoins
Ethereum (ETH) is trading at around $2,550, showing a weekly gain of over 3.50%. This positive movement has increased interest in many altcoins, among which Uniswap (UNI) stands out with its technical structures.
Fractal Model of Uniswap and Its Possible Breakout
On the daily chart, UNI’s current setup strongly resembles its price action from late 2024 when it broke out of a falling wedge and entered a period of consolidation. UNI has once again surpassed the $8.30 mark and approached a similar price zone, which may signal potential upside movement.
Forecasts for UNI: Key Support and Resistance Levels
For the bullish scenario to unfold, UNI must confirm a breakout above the 200-day moving average at $8.30. A move above this key level could pave the way for a rally towards the next resistance at around $22. However, it is also crucial to hold above the 100-day moving average at $6.23 to avoid prolonged consolidation.
The analysis of current technical indicators for Uniswap (UNI) suggests that the coin may display positive dynamics in the near future if it can overcome key resistance levels.
