The Uniswap (UNI) currency shows strong signals for potential upward movement in the short term, supported by positive price movements and noticeable consolidation at important support levels. Currently, UNI is trading at $9.21, and the currency has experienced relative stability during recent sessions, indicating its readiness to test the next resistance level.
From a technical perspective, the current price behavior suggests the formation of new buying momentum, especially as the currency maintains the vital support area near $9.05, which also represents the proposed stop-loss area. Breaking this level downwards could weaken the positive outlook, but as long as prices remain above it, the upward trend remains intact.
The short-term target is $9.40, which is a nearby resistance level that may be tested if the upward movement continues. Breaking through this barrier could push the price towards higher levels, enhancing investor confidence in the short term.
In light of the current consolidation and calm in the market, it seems that UNI is preparing for a calculated upward movement, provided it holds the support level and does not break it. Therefore, entering from the current levels with a stop loss at $9.05 and a target at $9.40 represents a logical trading strategy within the framework of short-term trading.