URA Climbs to $31.83 and May Hit $65 As Chart Confirms Fifth Wave

URA has reclaimed strong support levels around $25 and now holds a price above $31 with growing volume

The chart points toward $65 as wave v continues with a clear bullish trend from its 2020 reversal point

Fibonacci levels at $21 and $43 may guide future moves if support stays firm and market volume holds strong

The Global X Uranium ETF (URA) surged 27.32% to $31.83, driven by bullish momentum in wave-based technical setups across monthly charts. Traders are observing key Fibonacci levels, long-term volume nodes, and Elliott Wave counts that outline a potential move toward the $65 range. With price reclaiming significant support zones, the path forward appears mapped by a clear sequence of price pivots and trend validations.

Source: X Clear Wave Count Points to Fifth Wave Extension

The monthly chart of URA shows a detailed Elliott Wave structure, with five distinct waves forming since the bottom in 2016. The corrective ABC wave structure from 2022 to early 2025 appears completed, suggesting that wave (C) and its subwaves are in progress. The current bullish impulse hints at the beginning stages of wave v, which may target the $65.67 resistance.

URA recently found support near the 0.382 Fibonacci retracement at $21.68 before bouncing strongly past $31. A prior support range around $25 acted as a launchpad for this latest push, supported by a cluster of volume near these price levels. Market participants have noted the 0.618 retracement from the recent highs aligns closely with a previous resistance at $43.16, placing it as the next likely test point.

The long-term price structure suggests a steady bullish breakout if momentum sustains. With volume rising steadily over the past three years, investor confidence is supported by increasing institutional interest. The alignment between the Fibonacci projections and wave targets helps add technical confirmation to a multi-year accumulation thesis.

Fibonacci Confluence Suggests Multiple Price Objectives

URA’s current trajectory shows alignment with several major Fibonacci extensions, particularly the 1.618 extension projecting to $148.62. However, the more immediate short-term target lies at the 1.0 extension level of $65.67, which corresponds with wave v objectives. This Fibonacci zone has been noted by analysts as a potential area where profit-taking could occur if price gains continue.

Another strong confluence exists at $43.16, where the 0.618 retracement level intersects with an earlier horizontal resistance line. Volume profile data on the right of the chart shows that significant market interest is centered around this zone. If URA manages to break through the mid-$40s level, upward continuation becomes highly probable with minimal overhead resistance before the $60–$65 band.

The market structure appears strong, with higher lows forming consistently since the 2020 breakout from $14.63. Monthly RSI has yet to show any divergence, and recent price action suggests an active continuation of strength. Barring a sudden reversal, the structure aligns well with long-term bullish wave progression.

Will Momentum Sustain Beyond $43 or Fade Into Consolidation?

While technicals point toward growth, a key question remains: can this recent rally above $31.83 hold long enough to breach $43.16? The bullish thesis relies on URA remaining above critical Fibonacci retracement zones, particularly the 0.382 at $21.68. A break below this level could invalidate the current wave structure and delay any sustained move toward upper targets.

The Ichimoku cloud currently supports the bullish case, as price has broken out above the cloud’s top boundary. Moving averages show alignment with the trend, offering additional confirmation for short- to mid-term continuation. However, traders will monitor upcoming price interactions near the $43 zone to validate strength.

As volume thickens around the $30–$35 range, analysts expect increased activity from institutional investors. Wave-based models suggest that corrective wave iv may appear before further upside, but targets remain intact barring invalidation. Future price action around $43 could determine whether URA enters consolidation or completes its fifth wave toward $65.