Uniswap (UNIUSD) Poised for Breakout: Eye $16 and $21 Targets
2024-03-21

Uniswap (UNI), the native token of the leading decentralized exchange Uniswap Labs, is showcasing bullish signals. 
The UNIUSD pair is currently hovering around $11.70, and a decisive breakout above $12 could trigger a significant rally.

Bullish Breakout Potential

Several factors underpin Uniswap's bullish momentum. Firstly, the overall recovery in the cryptocurrency market has lifted investor sentiment towards DeFi tokens like UNI. Secondly, Uniswap Labs' continuous development efforts, including the recent deployment of its Layer 2 scaling solution Uniswap v3 on BNB Chain, are attracting new users to the platform.

Targets on the Horizon

If UNIUSD successfully breaks above $12, anticipate a swift surge to $16. Further bullish momentum could propel the price toward $21. However, a failure to break above $12 could result in a pullback to the support levels around $6-$7.