Altcoin Rally: Polkadot, Near Protocol, and Uniswap Lead Market Rebound

The cryptocurrency market has seen a notable uptick in recent days, with several altcoins leading the charge. Among these leaders are Polkadot (DOT), Near Protocol (NEAR), and Uniswap (UNI), which have all experienced significant price increases.

Polkadot's rally has been particularly impressive, with a 34% surge in the past 24 hours pushing its price above $1.60. The altcoin is currently testing the limits of a falling channel pattern, and a decisive close above $1.75 could extend the rally towards the R1 Pivot Point at $2.12.

Uniswap has also seen a substantial rebound, with its price hovering above $4.00 despite facing resistance from the declining 50-day exponential moving average (EMA) at $4.18. If UNI can secure a daily close above this level, it could target the $4.84 resistance level marked by the December 18 low.

The technical indicators for these altcoins suggest that momentum is improving, but the broader downtrend remains in place. A reversal below key support levels could expand the downside risk for each of these coins.