$UNI and $CRO Marks Significant Gains Following Major Breakouts—What To Expect Ahead?

1.Uniswap (UNI)

On the UNI daily chart, the price recently broke out of a descending channel that had constrained its price movement for months. This breakout is significant, as UNI has been trading in a pattern characterized by lower highs, building up tension and anticipation. The recent price surge pushed UNI above the $8.70 mark, breaking through a critical support area (R) at $8.36, as indicated on the chart.

The next target (T) for UNI lies around the $11.50 level, marking an area where traders may look to take profit. For now, UNI has broken out of its resistance zone, and with sustained volume, it may approach this higher target soon. However, as with most breakouts, a short-term correction or retest of the support area (S) near $8.36 could occur before any further upward movement.

2.Cronos (CRO)

CRO has also posted impressive gains, breaking out of a long-standing descending resistance line that has held since early 2024. The price has managed to push through the breakout point (B) and currently trading in a major resistance zone (R). a breakout above $0.097 will signal a potential continuation towards the next target area (T) around $0.1158.

As CRO sits above the $0.086 level, there’s a possibility of a slight retracement to establish a solid support base before any continued climb. If the market remains bullish, particularly with ongoing positive election sentiment, CRO could hold above this level and aim for the $0.1158 mark in the coming days.

What To Expect Ahead?

If the bullish momentum holds, we could see both UNI and CRO continuing their upward trends, potentially reaching their next targets in the short term. As always, traders should stay mindful of potential corrections and manage their positions carefully.