🚀 Uniswap (UNI) breaks out strongly, establishing a 4-month peak
📈 Up 40% in just one day
UNI has just made a spectacular breakout, rising over 40% in one session – reaching a peak of $8.66, the highest since February. While the market is still hesitant, funds are flocking to UNI like a new ‘wave detection’.
📌 Funding rate skyrockets – extremely optimistic market signal
The funding rate on derivatives exchanges has reached its highest level this month, indicating that investors are heavily betting on the long side. Once the funding remains consistently high, it is a sign of sustainable upward momentum (but one should also be cautious of a sudden profit-taking).
📌 Elder-Ray turns green – buyers are dominating
The Elder-Ray Index has shifted to a strong buy signal – indicating that buyers are absolutely in control in the current price range.
📌 Upcoming target: $9.5 – $10.25
If UNI can break through the resistance at $9.46, the next target zone will be $10.25 – a crucial price point since the beginning of the year. However, if it cannot hold above $8.07, the possibility of a correction back to $7 still remains.
