Uniswap price confirmed a 45% bull rally as it broke out of a symmetrical triangle pattern on March 1. Transactional data shows that $25.30 is proving out to be a formidable supply barrier to breach. A decisive close above this level will confirm a continuation in the upswing to $33.9. Uniswap price is meandering around a stiff resistance level after breaking out of a symmetrical triangle consolidation. Hence, UNI’s four-hour candlestick close relative to the supply barrier at $25.3 will make-or-break the DeFi token. Uniswap price at crossroads Uniswap price action since February 20 resulted in a symmetrical triangle pattern. In such a consolidation phase, the asset tends to form a series of lower highs and higher lows as the price gets squeezed within converging trendlines. Such a movement is a result of aggressive buyers and sellers trying to take control of altcoin. In UNI’s case, the price broke above the upper trendline, confirming the bullish outlook. Now, UNI could surge 45%, which is determined by measuring the distance between the pivot high and pivot low and adding it to the breakout point at $23.04. This target puts Uniswap price at $33.9. Despite the recent correction due to the lack of bullish momentum, UNI’s outlook is optimistic due to the perseverance of the SuperTrend indicator’s buy signal. Moreover, the presence of 50 and 100 four-hour moving averages (MA) below the current price level suggests that short-term selling pressure will be rendered useless. UNI/USDT 4-hour chart According to IntotheBlock’s In/Out of the Money Around Price (IOMAP) model, nearly 5,000 addresses have purchased 17.6 million UNI at an average price of $25.30, making it a crucial level. Therefore, UNI bulls need to regain this level to continue the upswing to $33.9. Uniswap IOMAP chart However, investors need to note that a 4-hour candlestick close below the $25.30 supply barrier will signal a downtrend. In such a case, Uniswap price could drop 15%, which would invalidate the SuperTrend indicator’s buy signal and invalidate UNI’s bullish thesis. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Natural Gas Futures: Deeper pullback looks limited FX Street 1 year Uniswap price confirmed a 45% bull rally as it broke out of a symmetrical triangle pattern on March 1. Transactional data shows that $25.30 is proving out to be a formidable supply barrier to breach. A decisive close above this level will confirm a continuation in the upswing to $33.9. Uniswap price is meandering around a stiff resistance level after breaking out of a symmetrical triangle consolidation. Hence, UNI's four-hour candlestick close relative to the supply barrier at $25.3 will make-or-break the DeFi token. Uniswap price at crossroads Uniswap price action since February 20 resulted in a symmetrical triangle pattern.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.