Crypto
The Uniswap price appears to be recovering nicely after a disappointing performance at the beginning of the year. The DeFi token rallied past the $10 mark in the final hours of Friday, February 14, reflecting the improving climate of the general crypto market.
Crypto Uniswap Price Jumps 10% In The Past Week
The UNI token was one of the beneficiaries of the bullish momentum that shook the market on Friday evening. As of this writing, the price of Uniswap stands at around $10.18, reflecting an over 3% increase in the past 24 hours.
This single-day action pushed the Uniswap price performance in the last week to double digits; a nearly 11% climb according to data from CoinGecko. While things seem to be looking up for the altcoin, its performance on broader timeframes is still something to worry about.
Due primarily to the recent drop beneath the $8 level, the price of UNI is down by almost 15% in the last two weeks and 30% in the past month. However, the Uniswap price appears to be gearing for a bullish breakout over the next few days.
Crypto Here’s How UNI Price Could Reach $13
In a February 14 post on the X platform, popular crypto analyst Ali Martinez put forward an exciting bullish outlook for the price of UNISWAP over the coming days. According to the crypto pundit, the DeFi coin could travel as high as $13 following the potential bullish breakout.
The rationale behind this optimistic prediction is the formation of the Adam & Eve pattern on UNI’s hourly price chart. The Adam & Eve pattern is a technical analysis formation characterized by two distinct troughs (price swing lows).
The first depression, Adam, is a sharp V-shaped dip, while the second trough, Eve, is marked by a more rounded, U-shaped bottom. This price formation is often a reversal indicator, suggesting a potential shift in market sentiment from bearish to bullish.
However, it is most crucial after identifying an Adam and Eve pattern to wait for the confirmation of a bullish breakout. The bullish setup is validated once the asset’s price breaches and successfully closes above its highest high.
In UNI’s current situation — as shown in the highlighted chart, the significant level to confirm the bullish breakout is around the $10.1 mark. According to Martinez, a successful close above this level could set the stage for a Uniswap price rally to $13 — about 30% from the current price point.
Featured image from iStock, chart from TradingView
Crypto
Opeyemi Sule
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.
Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.
Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.
When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.
Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.
Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opp
