Uniswap’s patterned breakout is likely, investors can benefit from these targets Uniswap’s [UNI] rally in January offered 43% gains so far. It jumped from $4.963 to $7.109 by the time of publication. But more gains could be likely because of the underlying macroeconomics and fundamentals. At press time, the king coin, Bitcoin [BTC], threatened to close above $23.5K on the lower timeframe charts even before the next week’s official FOMC announcement. This underlies the positive expectations from the meeting that could see BTC rally into February. Since January 10, UNI’s price action has chalked a bullish ascending triangle. The FOMC meeting and bullish BTC further suggest a likely bullish breakout with $7.725 as the target. The target level also acts as a pre-FTX level; thus, UNI could gain over 10% if the target is reached. However, a bearish breakout would invalidate the above bias. Such devaluation could see UNI drop to the bearish target of $5.562. UNI was highly bullish on the 12-hour chart, with the Relative Strength Index (RSI) valued at 60. Therefore, a bearish breakout could be highly unlikely. On the other hand, the low trading volumes indicated by the On Balance Volume (OBV) could delay the uptrend in the short term. But the volumes will pick up if BTC reclaims and surge above $23.5K. Read More: <a rel="noreferrer nofollow noopener" href="https://ambcrypto.com/uniswaps-patterned-breakout-is-likely-investors-can-benefit-from-these-targets/" target="_blank">https://ambcrypto.com/uniswaps-patterned-breakout-is-likely-investors-can-benefit-from-these-targets/</a>