Uniswap breaks key resistance amid rally hopes

• Uniswap (CRYPTO:UNI) has broken above a key technical resistance level, signalling renewed bullish momentum.
• Analysts said the breakout could open the way for UNI to test the US$7 price level.
• Further gains will depend on sustained buying pressure and broader cryptocurrency market conditions.

Uniswap (CRYPTO:UNI) has moved above a key trendline resistance, with analysts pointing to stronger technical momentum.

The breakout has raised expectations that UNI could climb towards the US$7 level if buying interest continues.

Analysts said the breakout will need sustained trading volume to confirm a longer-term bullish trend.

A stronger cryptocurrency market and continued activity on the Uniswap protocol could support further gains.

Uniswap is a decentralised exchange that allows users to trade digital assets directly from their wallets without a central intermediary.

UNI is the governance token of the Uniswap protocol and allows holders to vote on proposals affecting the platform.

At the time of reporting, Uniswap price was $4.49.