Crypto Market Strength Continues as Uniswap and Pepe Coin Soar
The crypto market continues to show strength, with Bitcoin price rising above $86,000 and the total market capitalization reaching over $2.93 trillion. The surge in volume on DeFi platforms is particularly noteworthy, with Uniswap (UNI) seeing a significant increase.
Uniswap's UNI token has been performing well in recent months, rising from a low of $2.31 in June to a high of $10.90 last month. The token crossed the important resistance level of $7.47 on September 6, invalidating the double-top pattern and setting the stage for further gains.
The formation of a cup-and-handle pattern and a golden cross are also bullish signs for UNI, indicating a path of least resistance towards $15. However, there is still risk involved, with the potential for a reversal in the crypto/DeFi rally and UNI failing to hold above the $7.47 breakout level.
Pepe Coin (PEPE) has also been performing well, breaking above the pennant/triangle area near $0.000004564 and forming a fresh golden cross. This setup points to continuation, with targets of $0.000005353 and then $0.0000060 if resistance is cleared.
Doppler Finance (XDP) price has moved sideways in recent days after its token listing, coinciding with the ongoing volume jump.