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Uniswap analysis: UNI price can double based on a classic technical pattern

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Uniswap (UNI) market valuation could grow by 100% in the second half of 2022 as it paints a classic bearish reversal pattern.Dubbed "inverse head and shoulders (IH&S)," the technical setup takes shape when the price forms three troughs in a row below a common support level (neckline), with the middle one (head) deeper than the other two (shoulders).

Additionally, it resolves after the price breaks above the support level.The UNI price trend since May 23 checks all the boxes for forming an IH&S pattern, except the right shoulder.

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