The cryptocurrency market begins the new week with signs of recovery following volatility from geopolitical events. Ethereum and Uniswap show growth, supporting positive market sentiment.
Crypto Market Recovery
The cryptocurrency market is showing signs of recovery, reflected by Ethereum (ETH) rising by 2.38% to $2600. This movement has positively impacted other altcoins, including Uniswap (UNI), which is also displaying positive trends.
UNI's Harmonic Pattern: Potential Upside
On the 2-hour chart, UNI is forming a Bearish Bat harmonic pattern, known for its ability to forecast continued upside. The pattern is reaching its final stages, and the current price around $7.58 may be just the beginning. The Potential Reversal Zone (PRZ) lies between $8.45 and $8.67.
Future Outlook for UNI
If UNI successfully climbs toward the $8.45-$8.67 resistance zone, it would confirm the harmonic pattern and attract additional interest from traders. However, profit-taking in the PRZ could affect the short-term dynamics. In the absence of volatility, the short-term outlook appears optimistic.
The current structure may support UNI in a potential upward movement, but global events remain an important factor that could influence the market.
