Key Takeaways
After a prolonged downtrend, Uniswap (UNI) has recently shown bullish signs, sparking traders’ curiosity about a potential reversal.
On the macro view, UNI appears to be emerging from a completed corrective pattern, while the intraday chart displays a possible impulsive structure, suggesting a bullish continuation.
However, considering the longevity of the downward move, strong confirmation has yet to be presented.
UNI Price Analysis
The daily chart shows that UNI has been moving within a descending corrective channel since hitting a peak near $20 in December 2024.
The price action formed a WXYXZ complex correction, with the most recent leg, labeled Z, bouncing from a historically significant support zone of $4.80–$5.75.
This zone coincides with previous accumulation levels from mid-2023 and was a key support during the November 2023 correction.
Currently, UNI is attempting a breakout from the descending wedge, and the demand zone.
The daily Relative Strength Index (RSI) has also bounced from oversold conditions, adding to the bullish case.
The breakout attempt aligns with the wedge resistance and horizontal support intersection at around $5.75.
A successful move above this level would invalidate the bearish channel and confirm a structural reversal.
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The overall Fibonacci retracement levels from the $19.35 high show that reclaiming the 0.786 level at $7.86 is a longer-term target if momentum sustains.
However, short-term resistance around $6.58 (the last major swing high) could be a critical first checkpoint for bulls.
UNI Price Prediction
On the 1-hour chart, price action shows a clear impulsive structure (i-ii-iii-iv-v) potentially developing from the $4.74 low.
Currently, the price is consolidating within a green support block, marked by the 0.382–0.618 Fibonacci retracement zone of the latest wave up (from $4.74 to $5.46).
The current price at $5.18 aligns with the 0.5 Fib level, which should be the ending point of wave iv if we are in a five-wave impulse.
The structure hints at a possible completion of wave iv, with wave v expected to push the price toward $5.74–$5.75, which is confluent with the daily resistance zone.
After wave v concludes, a corrective ABC pattern may follow, ideally forming a higher low near $5.02–$5.15, before resuming its larger upward movement.
This scenario aligns with Elliott Wave theory, which states that a three-wave correction follows a completed five-wave impulsive move.
If this structure plays out as described the projection could see UNI reclaiming values above $8 A failure to hold above $5.02, however, could delay or invalidate the bullish outlook.
Key Levels to Watch
- Immediate Resistance: $5.75 (Wedge resistance and daily horizontal zone).
- Short-Term Resistance: $6.58 (Last major swing high).
- Major Resistance: $7.86 (0.786 Fibonacci retracement from $19.35 high).
- Immediate Support: $5.18 (0.5 Fib retracement of current impulse from $4.74).
- Critical Support: $5.02 (Potential Wave iv low and ABC correction floor).
- Bearish Invalidation: Below $5.02 delays or negates bullish impulse count.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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