Uniswap (UNI) Targets $20 in Bullish Breakout—What's Next?
2024-12-09

Uniswap (UNI) is showing strong bullish momentum, trading at $18.49, and has broken through key resistance levels. The price has surpassed the 0.236 Fibonacci retracement level at $14.65, and it is approaching the 0.5 Fibonacci level at $20.37. If the momentum continues, UNI could target $22.92 (0.618 Fibonacci) and potentially $26.55 (0.786 Fibonacci) in the medium term.

However, immediate resistance at $20.37 could lead to consolidation or a short-term pullback. Key support levels to watch include $14.65, $9.49, and $7.71 in case of a correction.

Outlook:
Short-term: Bullish, with a target at $20.37.
Medium-term: Potential rally toward $22.92 and $26.55.
Long-term: Bullish, with risks of correction near major resistance zones.
UNI remains well-positioned for further gains if it holds above $14.65 and breaks through $20.37.