Uniswap price is finally showing signs of life after spending nearly three years stuck in a tight range. The token had been consolidating between $3.50 and $8.00 for over 1,000 days, but this week, it broke out, and now it’s trading around $10.80.
According to analyst Cryptoking, this kind of breakout after such a long accumulation could be setting the stage for something much bigger.
UNI Breaks Out After Long Stagnation
For almost three years, UNI price was bouncing inside a sideways box, with multiple touches on both support and resistance.
That range kept the price trapped between $3.50 and $8.00, and frustrates bulls and keeps the token out of the spotlight.
Now, that range has been broken. A strong green candle pushed UNI price above $8, and it’s currently hovering just above $10.
The chart marks the breakout zone with a circle, and hints that a retest or continuation might be next. With volume building, traders are watching to see if this breakout has real legs.
UNI Breakout Targets $20 First – Then $70 If Momentum Holds
Based on earlier price action, the first target sits near $19.89, the same area that acted as resistance back in early 2022.
Source: X/Cryptoking
If UNI price can climb and hold above that level, analysts say it could open the door to a much bigger run. Some projections even point to a long-term move toward $70, especially if the broader market enters a full-blown altcoin bull cycle.
UNI did it before, jumping 721% to hit $46 in 2021, so many are wondering if history could repeat.
Key Levels to Watch
The $8 breakout level now becomes a must-hold support zone. If price pulls back and bounces there, it could confirm the breakout and give bulls more confidence.
If not, the lower range around $3.50 still stands as long-term support. To stay in bullish territory, UNI needs to stay above $8 and show strength as it approaches the $19–$20 zone.
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That’s where the next big test will come. In a tweet, Cryptoking noted that UNI previous breakout attempt failed.
But this time, things are looking more solid, especially with altcoins gaining momentum across the board. He added that long consolidations often lead to strong moves, and with UNI out of its range, it might be getting ready to prove that true.
If UNI price keeps holding and volume stays up, traders may be lining up for a much bigger move in the weeks ahead.
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The post Uniswap (UNI) Price Breaks Out After 3 Years of Accumulation – Is a Major Move Coming? appeared first on CaptainAltcoin.
