UNI Token Surges 70% Since April Low, Trading Above $7.46
Uniswap's governance token (UNI) is trading above $7.46, having increased 70% from its yearly low of $4.551 on April 7. Key points include:
- Seven weekly gains in eight weeks—longest positive streak since early 2023.
- Trading above key resistance levels, indicating a bullish reversal structure.
- Support established around $7.14–$7.17 after buyers absorbed an earlier drawdown.
- Latest rally pushed through local highs despite intraday profit-taking near $7.52.
- A clean break above $7.60 could confirm a full momentum shift.
Technical Analysis Highlights
- 24-hour range: $7.142 to $7.792 with 8.7% intraday volatility.
- Sell-off bottomed at $7.142 with volume spiking to 3.96 million (78% above average).
- Volume increased to 4.69 million as buyers triggered a V-shaped recovery.
- Price peaked at $7.578 before facing resistance and temporary consolidation.
- Price dipped to $7.37 but surged to $7.53 with significant volume increase.
- Despite profit-taking, UNI maintained mid-range price action, extending recovery into a defined uptrend.