Uniswap Price Rallies Above Trendline, Sets Sights on $7

Uniswap's price has finally broken above a multi-month descending trendline, putting it in a strong position to reach $7 and possibly even $7.50. After recovering from its June low of around $2.80, UNI is now trading near $6.27. The recovery is also supported by whale accumulation at $5.76 and expanding Uniswap activity on Robinhood Chain.

The breakout above the trendline indicates that buyers are in control, and a major resistance band is forming near $7. This could make it difficult for UNI to break through, but if it does, it may indicate a strong upward momentum.