Uniswap (UNI) Likely To Reach $7 – If Token Overcomes This Resistance Level

Uniswap is not looking good right now. UNI, the governance token of the decentralized exchange platform bearing the same name, must be able to muster enough energy to regain momentum and hit its target. Uniswap’s key support levels are $5.7 and $5.2 UNI price can go as high as $7, with a push for $8 also highly possible An extended bearish run is still possible if breakdown below support marker occurs According to tracking from Coingecko, at press time, the cryptocurrency is trading at $6.20 and is currently down on intraday, weekly and monthly periods. Over the last 24 hours, Uniswap went down by 2.8% while on a seven-day period the asset is dealing with 8.2% price decline. Its year-to-date loss is huge, being down by 76.4% and UNI already lost 86.2% of its all-time high price of $44.92 attained last May 3, 2021. But despite all of these negative price numbers, investors could be looking at a bull run for the 17th largest cryptocurrency in terms of market capitalization. Related Reading: Who Shines Brighter? Solana Beats Altcoin King Ethereum In This Key Area How UNI Can Hit The $7 Marker Analysis from its daily timeframe chart shows the altcoin’s price has incorporated itself into an inverted head and shoulder pattern, putting itself in a good position to start a bullish rally. Chart: TradingView Investors need to keep their eyes open for two crucial support levels for Uniswap, $5.7 and $5.2, as they are significant points f...