📈 The cryptocurrency market is surging, led by Bitcoin, with many altcoins hitting record highs. Uniswap (UNI) reached a two-year peak of $12.85 on February 24 before experiencing a slight decline.

📊 Weekly UNI Chart Analysis:
UNI has been rising within a long-term horizontal support area since October 2023. It broke out from a declining resistance trend line after 480 days. Recently, it broke out from a horizontal resistance area and reached a high of $12.86 before a slight pullback. The Weekly Relative Strength Index (RSI) supports the rise, indicating upward momentum.

📉 Daily UNI Chart Analysis:
The daily timeframe also shows an upward trend, with the most likely wave count suggesting UNI's movement will continue. UNI is potentially in the third wave of a five-wave upward movement, with the current correction likely leading to another upward move towards the next resistance level of $16.10.

⚠️ Despite the positive forecast, failure to break out from $12.10 could trigger a drop to the nearest support at $7.80, representing a roughly 30% decrease.