Will the listing of UNI on Upbit trigger a breakthrough for Uniswap

Coin World News Report:
UNI is approaching a key breakthrough point and testing the resistance level of $8.66 after a strong rebound.
The dominance in the community and the rising open interest contracts indicate that traders are gaining confidence in further upward movement.
Uniswap
After news of its listing on the Upbit exchange in South Korea, the company has shown an impressive short-term rebound. The price has surged more than 6% and trading volume has increased by over 110%.
At the time of writing, the trading price of UNI is $8.16. The key question is whether this momentum will continue to push the price above the critical resistance level of $9.67 and move towards higher targets.
UNI Chart Analysis: Is a breakthrough imminent?
The daily chart shows that Uniswap is approaching a potential breakthrough of its upward channel. Currently, the token is testing the key resistance level of $8.66, which has hindered previous attempts to rise.
Breaking this barrier will provide a foundation for UNI to challenge the resistance level of $9.67.
If this level is breached, the next target could be $11.99. However, if Uniswap fails to break the $8.66 level, it may fall back to the support area around $7.50, especially in a weak market.
UNI Technical Indicators: How do BB and RSI align?
From a technical perspective, the Bollinger Bands indicate that Uniswap is moving upwards, suggesting increased volatility and the possibility of further upward movement. In addition, the Relative Strength Index (RSI) is at 60.87, slightly below the overbought zone.
This indicates that although there is still room for bullish investors to push up the price, there is a risk of momentum stagnation if the RSI approaches the key level of 70, which may lead to a short-term correction.
UNI Social Dominance: What does sentiment mean?
UNI’s social dominance has risen to 0.579%, indicating its growing influence in community discussions and trader sentiment. This increase comes after a significant surge earlier this month, reflecting continued interest in Uniswap’s listing on Upbit and recent price trends.
Therefore, the increase in social dominance suggests an increased focus in the cryptocurrency community, and as more traders pay close attention to UNI, this may support further price increases.
Rising Open Interest Contracts: Will this drive up prices?
In addition to the positive price trend, UNI’s open interest contracts have increased by 11.76% to $129.94 million. This sharp growth indicates that more traders are entering the market, which is expected to result in greater volatility.
Therefore, the increase in open interest contracts indicates a stronger confidence in the continuation of the bullish trend.
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UNI Profit Calculator
Overall, UNI seems to be ready for a breakthrough, but it must surpass the resistance level of $8.66 to test $9.67 and potentially move towards $11.99. With adjustments in technical indicators and strong market sentiment, UNI appears poised for further upward movement.
However, the bulls need to maintain their momentum to avoid a setback. Therefore, traders should closely monitor the price trends of UNI in the coming days.