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Uniswap (UNI) experienced a 10% upward movement during the previous day which indicated developing market bullishness.
The market push comes hand in hand with a major jump in trading activity demonstrating robust buyer engagement.
After a deep bearish period, UNI entered growth mode because demand increased. Market analysts point to a TD sequential buy signal within the 3-day chart as the reason behind this price movement which indicates a trend reversal possibility.
A sustained momentum increase would lead UNI towards achieving additional resistance levels.
Uniswap TD Sequential Flashes a Buy Signal
UNI is showing potential for a shift since the TD Sequential indicator triggered a buying pattern in its 3-day time frame.
The current downtrend appeared to be exhausted and a possible change in direction could follow soon.
The prolonged price decline of UNI created sustained lower highs and lower lows until the substantial bearish candle pushed the price to $6.19.
This latest candlestick formation indicated potential stabilization for UNI because the price stabilized near $6.19. Consequently, this pattern showed decreasing selling pressure.
Traders consider the ‘9’ buy signal from TD Sequential to be an important indicator. This is because it suggests short-term trend changes, (or) that relief rallies may take place.
The price could advance beyond $7.00 to $10 if it successfully breaks through the resistance zone ($6.4) while facing previous rejection areas.
However, the bullish outlook for UNI could become invalid if the price drops below $6.08 which could send the token value towards $5.50 or below.
A price reversal needs increased trading volume and solid price confirmation before the situation can truly develop.
The associated risks are set to continue unless both volume and strong price action emerge.
A price bounce indicated by the buy signal needs UNI to keep its main support zones intact while crossing through resistance barriers to signal a new momentum direction.
UNI Magic: Both Fresh and Inactive Whales are Making a Comeback
Additionally, Uniswap showed substantial whale activity according to SpotOnChain. A whale account (0x0542) invested $1 Million in 157,675 UNI tokens, becoming its first altcoin acquisition. However, this whale already owned $500,000 in DAI and USDT.
Notably, a new whale entity (0xacef) transferred 1.295M MKR worth $1.58 Million combined with 150,311 UNI worth $944K from Binance because the trading activity resulted in a total value of $6.87 Million along with a trading profit of $145.7K.
Strong user interest in Uniswap emerged from large-scale cryptocurrency acquisitions, which often created positive price trends for DeFi tokens.
Therefore, the TD Sequential indicator is displaying a buy sign for UNI. Along with this, the appearance of a pattern that both confirms of future market trends along with their potential direction, Uniswap has set the precedent for a reversal from the price decline.
The rise in demand created by whale-buying activities could result in upward price movement for UNI because it drives the price above prior resistance areas.
The combined impact of whale buying activity and the TD Sequential indicator is likely to boost Uniswap’s value if broader market attitudes support the movement. Volatility functions as a notable danger within the DeFi market ecosystem.
