Uniswap Price Renews Hope For 30% Breakout With Launch of UniswapX Beta Protocol
Up 15% over the last week, UNI is trading slightly above $6 with $219 million in trading volume rushing in. Uniswap is the world’s 19th largest cryptocurrency boasting $4.6 billion in market capitalization. advertisement Will the Inverse Head-And-Shoulders Pattern Propel Uniswap to $7.5? Uniswap has since mid-June sustained an impressive uptrend from monthly lows of $3.6 to July highs of $6.148. The trend reversal completed the formation of an inverse head-and-shoulders when bulls confirmed support at $4.8, calling for more exposure to UNI longs ahead of an expected breakout above the pattern’s neckline resistance at $5.73. An inverse H&S pattern is a bullish signal that shows the Uniswap market is about to switch from a downtrend to an uptrend. The pattern appears on the chart like a person’s head and shoulders flipped upside down. The head represents the lowest point and the shoulders are higher. The neckline is the resistance level tha...