- UNI breaks out from a multi-year downtrend with strong bullish momentum and a 408% upside target projected by Javon Marks.
- Uniswap climbs from $5.80 to $8.33, breaching key resistance levels with volume and RSI confirming a powerful ongoing uptrend.
- Technical indicators and trend structure confirm a bullish reversal, positioning UNI for a potential rally toward $42.63.
According to Javon Marks, Uniswap (UNI) is showing renewed bullish strength, with its price rallying over 1.5% in the past 24 hours. Currently trading above $8.33, UNI reflects rising buyer confidence. The asset has climbed sharply from May lows near $5.80, confirming a solid recovery and a bullish breakout. The price action suggests that a long-term trend reversal is unfolding. Moreover, analyst eye a potential breakout target at $42.63—over 408% higher than current levels.
Source: Javon Marks
Major Trend Reversal Confirmed
UNI’s long-term chart from early 2021 to mid-2025 reveals a clear shift in trend structure. From mid-2021 to early 2023, a consistent downtrend formed lower highs and lows. A descending trendline confirmed the bearish dominance throughout this period. However, that trendline broke in early 2023, flipping the structure from bearish to neutral.
Consequently, UNI began consolidating sideways, with no clear direction. But that changed in 2024. Higher lows started forming, hinting at returning bullish pressure. From mid-2024 to early 2025, UNI displayed sharp price surges and healthy corrections. This pattern solidified a volatile but clear uptrend. The asset peaked at nearly $16 before pulling back to around $6. Still, that higher low confirmed ongoing strength.
Technical Indicators Support the Rally
The recent 4-hour chart shows UNI steadily climbing. Price rose from $5.80 in mid-May to over $8.33 by June 10. Moreover, Fibonacci retracement levels were consistently breached, confirming the breakout. UNI surged past resistance at $7.218 and $7.897, continuing its climb.
Source: TradingView
Additionally, the 200-period Exponential Moving Average closed at $6.30, well below the current price. This gap confirms strong bullish momentum. RSI indicators show values above 88, indicating powerful momentum but also nearing overbought conditions. Besides, trading volume hit 2.21 million tokens, signaling heightened participation.
Trendline highlights the upward slope from May lows. Consecutive green candles and expanding price ranges further confirm bullish control. The breakout above key resistance levels may unlock more gains. Javon Marks projects a $42.63 target, suggesting massive upside potential.
