- Captain Faibik noted in an X post today that UNI is attempting another challenge at a major trend line.
- In the post, the trader predicted that UNI could surge 150-180% following a break above this trend line.
- Meanwhile, technical indicators on UNI’s daily chart suggested its price may continue to rise in the next 24-48 hours.
Captain Faibik, a renowned cryptocurrency trader and analyst, highlighted in an X post today that Uniswap (UNI) is attempting another challenge at a major negative trend line. In the post, the trader predicted that the altcoin overcoming this level could lead to a 150-180% bullish rally.
Meanwhile, technical indicators on UNI’s daily chart suggested that it may rise in the next 24-48 hours. If this bullish thesis is validated, then it may look to flip the next major resistance level.
At press time, the daily Moving Average Convergence Divergence (MACD) and the daily Relative Strength Index (RSI) indicators were flagging bullish. Both of these indicators suggested that UNI’s current positive trend may continue through the course of the next couple of days as bulls retained the majority of the strength on UNI’s daily chart.
The MACD line was positioned bullishly above the MACD Signal line. Furthermore, the slope of the MACD Histogram was positive. These technical flags are usually seen as a sign that a cryptocurrency’s trend may continue. Given that UNI has risen 5.30% over the past 24 hours according to CoinMarketCap, it is likely that the altcoin’s value will continue its ascent.
Meanwhile, the daily RSI line was positioned above the daily RSI Simple Moving Average (SMA) line, which suggests that buyers had the upper hand against bears. Subsequently, it will be easier for bulls to boost UNI’s price than it will be for bears to drag it down in the coming 24-48 hours.
If these bullish flags are validated, UNI may flip the $5.445 resistance level into support before potentially rising to as high as $6.060 in the short term. On the other hand, UNI failure to close a daily candle above $5.445 in the next 72 hours could be followed by a price correction for the cryptocurrency. This could potentially drag it below both the $4.880 and $4.50 support levels.
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