Uniswap's price surged to $8.20 following a successful breakout from a bullish pennant formation, driven by increased trading activity and rising capital inflows.
The breakout confirmed a classic pattern, leading to a surge toward the projected target of $7.80, with volume confirmation playing a crucial role in validating the uptrend.
UNI now trades at nearly $8.20 after a sustained rally, accompanied by a surge in trading volume to $773 million, signaling market interest and potential for further gains.
Technical indicators suggest the uptrend could extend to the $9.00 resistance zone, with indicators like MACD and Chaikin Money Flow supporting the bullish momentum.