The cryptocurrency market has kicked off the second quarter of 2025 on a bullish note. Ethereum (ETH) has surged by over 3%, and Uniswap (UNI) is also rising by nearly 4%, suggesting a potential bullish reversal.
Retesting Its Symmetrical Triangle Breakout
On the weekly chart, Uniswap (UNI) made a major breakout back in November 2024 from a long-standing symmetrical triangle pattern that had been developing since the last bull run in 2021. The breakout occurred when UNI surged past the upper boundary of the triangle around $11, pushing its price to a local high of $19.44 before pulling back for a major correction. Currently, UNI is retesting this breakout trendline. The price is hovering near $6.24, a crucial support level, and a successful rebound from this zone could confirm the breakout retest. Additionally, UNI is trading close to its 100-week moving average (MA), another key level to watch.
MACD Indicating Potential Momentum Shift
The MACD indicator on the weekly chart is showing signs of bottoming out. The MACD line has been trending below the signal line for an extended period, but the histogram is beginning to show diminishing bearish momentum. If the MACD crosses bullishly in the coming weeks, it could further confirm the possibility of an uptrend.
Final Thoughts
Uniswap's price action suggests that it is at a critical juncture. A successful retest of the breakout trendline followed by a move above the 100 MA could set the stage for a significant rally. However, failure to hold support might lead to further downside pressure. Traders and investors should closely monitor UNI’s price action, especially around key technical levels, to gauge the next potential move.
Uniswap's price dynamics suggest significant changes. Confirmation of key levels could lead to accelerated growth, but failure to hold support will signal an intensified downward trend.
