Uniswap (UNI), a leading decentralized protocol, saw its price rise by 4.16% to $7.47, accompanied by a 22.13% surge in trading volume to $156 million. This positive momentum is attributed to UNI's breakout from an ascending triangle pattern, signaling potential accumulation by large investors.
is one of the top decentralized protocols in the cryptocurrency market, known for facilitating large volumes of trades using smart contracts to create liquidity pools.
This particular pattern had been forming for a month, and the breakout led to a price surge of over 10%. However, its performance over the last 24 hours settled with gains of 4% – A healthy consolidation.Hence, the question remains – Can UNI continue its upward trend? Well, external factors are aligning, with the potential for the price to reach $10 by Q4 2024, offering gains of 36% from its press time price.
Uniswap UNI Cryptocurrency Price Surge Ascending Triangle Pattern
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