Weekly Resistance Finally Gives Way
UNI has broken through the stubborn $4.15 weekly resistance area after several previous attempts failed. Bulls will now want to see this former resistance hold as support to strengthen the breakout.
Weekly Momentum Continues to Improve
The 21/8-Week EMAs have now bullishly crossed, adding to the improving technical picture. RSI is also holding above 50, although StochRSI has moved into overbought territory following the recent recovery.
Sellers Step In at $4.70
The latest move reached $4.70 before encountering selling pressure. This leaves price just beneath another important area that has previously played a significant role in the weekly structure.
The Bigger Test Sits Around $4.80
The next major resistance sits around $4.80, close to the previous $4.849 swing low. A convincing break through this area would provide further evidence that UNI's broader recovery is gaining strength.
Holding $4.15 Is Now Important
After finally breaking through $4.15, bulls won't want to surrender the level quickly. A successful retest would reinforce the breakout, while dropping back below it would raise questions over whether the move can be sustained.
In Summary
Uniswap's weekly picture continues to improve after bulls finally broke through the stubborn $4.15 resistance area. The 21/8-Week EMAs have bullishly crossed, and RSI remains above 50, although StochRSI is now overbought. Sellers have stepped in around the recent $4.70 high, leaving $4.80 as the next major test. Holding $4.15 as new support would keep the recovery on track, while losing it would weaken the bullish case.
