Uniswap ($UNI) Ignites with Major Breakout and Bullish Momentum!

Uniswap $UNI is showcasing strong signs of a bullish reversal, propelled by a definitive breakout from an inverse head-and-shoulders pattern on its daily chart. In the past 24 hours, UNI has shot up over 20%, hitting a high of $8.61 and marking an impressive 84% surge from its April low. This significant price action has pushed its market capitalization past $5 billion, notably flipping that of Aave $AAVE in the process, signaling a major shift in market perception and dominance within the DeFi sector.

The underlying metrics firmly support this rally. UNI's daily trading volume has surged by over 150% in the last day, reaching nearly $1.39 billion, reflecting robust buying interest. In the derivatives market, open interest has soared by 54% to a record $713 million, indicating substantial fresh capital entering the market with traders overwhelmingly betting long, as evidenced by a long/short ratio above 1. This confluence of increased liquidity and strong bullish positioning highlights deep market confidence.

This powerful rally isn't isolated; it's being fueled by a mix of positive macroeconomic developments and crypto market sentiment, including updates from the SEC roundtable, Bitcoin soaring past $109k, and positive U.S.-China deal sentiments. Critically, UNI has also broken out of a multi-year, 3-year-long wedge pattern, per Bitcoinsensus analysis. Their price analysis signals a strong bullish reversal, predicting further rallies to $11.6 (first major resistance), $15.5 (intermediate resistance), and even up to $27 in a potential parabolic breakout. On another note, for those seeking opportunities, the $RESOLV #Airdrop is also ongoing, offering $5-$500 to 150 lucky winners based on trade volume and Gleam entries, with a special $5 airdrop for first-time spot traders on #BingX .