The article discusses the recent breakout of Uniswap (UNI) from an Adam & Eve pattern, suggesting a potential price increase of up to 30%, targeting $13. The Adam & Eve pattern typically indicates a transition from a downtrend to an uptrend, characterized by a sharp peak (Adam) followed by a rounded trough (Eve). The article highlights a bullish crossover in the MACD, which points to increasing buying momentum, with an RSI at 50.16 indicating a neutral market that leans towards buying pressure.
A decline in Netflow on exchanges suggests reduced selling pressure, which further supports the possibility of price appreciation. Currently, a significant portion of UNI holders is profitable, encouraging them to hold or acquire additional tokens, potentially pushing prices up. The article notes that as UNI approaches the $13 target, increased purchasing activity could drive further price surges.
Additionally, the Cumulative Volume Delta (CVD) chart indicates a potential shift toward buying, reinforcing bullish sentiment. Overall, the combination of the breakout pattern, positive indicators in trading momentum, and low selling pressure suggests that UNI could effectively reach its targeted price of $13.
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