The cryptocurrency market shows signs of recovery after recent volatility, with particular attention on Uniswap (UNI), which is demonstrating growth.
Market Overview
The cryptocurrency market is beginning to rebound after recent declines. Ethereum (ETH) dropped to $4,320, then recovered to $4,600, positively impacting sentiment among major altcoins, including Uniswap (UNI).
Harmonic Patterns and Uniswap
On the daily chart, UNI is developing a **Bearish ABCD harmonic pattern**. Although the name suggests a bearish completion, these structures often signal bullish continuations during the CD leg before reaching the Potential Reversal Zone (PRZ). The uptrend initiated from Point A ($8.68) to Point B, followed by a correction towards Point C near $9.57, where buyers reentered the market. Since then, UNI has started climbing again and is currently trading around $10.06, showing early signs of CD-leg expansion.
Outlook for UNI
If bulls manage to maintain price action above the 50-day moving average (MA) at $10.10, this could propel UNI into the Potential Reversal Zone (PRZ) near $13.17—an upside of about +31% from current levels. However, to maintain this bullish setup, UNI must stay above Point C support ($9.57); a drop below that zone could weaken the harmonic structure and potentially delay upside continuation.
While the recovery in the cryptocurrency market is still perceived as fragile, UNI’s technical analysis points to opportunities for further growth before the next significant resistance test.
