Following its 25% slump to the $9.00 low on Monday, UNI has formed a mild but steady bullish pattern , as the broader market struggles to keep bears at bay.

UNI currently trades within a tight upward channel and currently tests the base of this channel, with a possible bullish reversal in view in the near term. The next rally should take Uniswap to $10.00 again, possibly over the weekend, before posting a mild correction to $9.65, followed by a bullish breakout above the $10.00 level.

However, bulls need to stall bears over the next few hours to secure the channel.

Meanwhile, my resistance levels are $10.00, $11.00, and $12.00, and my support levels are $9.00, $8.00, and $7.00.

Total Market Capitalization: $1.86 trillion

Uniswap Market Capitalization: $6.5 billion

Uniswap Dominance: 0.35%

Market Rank: #23