Uniswap’s UNI Climbs Above $6.37 as Buyers Resist Trade War Pressures
Uniswap’s UNI token pushed higher despite ongoing global trade tensions, showing resilience amid a volatile macroeconomic landscape. The price moved up from $6.09 to $6.40, with solid support now forming just above $6.30.
Market turbulence remains elevated due to geopolitical risks and speculation around interest rate cuts in the U.S. and Europe. However, UNI appears to be benefiting from a rotation into altcoins, maintaining its footing even as overall market conditions remain unsettled.
A notable surge in trading volume early in the session, especially around $6.56, suggested a near-term peak. Yet, dips afterward triggered strong buying interest, reinforcing a bullish outlook as long as the token stays above the $6.30-$6.33 support corridor.
Key Technical Points:
- UNI gained over 5% in the last 24 hours, climbing from $6.09 to $6.40 amid volatile trading.
- The token’s price action showed a clear uptrend, with higher lows before hitting resistance near $6.57, accompanied by a volume spike of nearly 3.9 million tokens.
- Buyers consistently defended the $6.30-$6.33 support level, within a trading range that represented about an 8% price swing.
- In the final hour, UNI retraced slightly to $6.36 but quickly bounced, establishing higher lows and highs.
- A volume jump to 56,320 at 07:59 confirmed sustained buying interest at these levels.
- Support solidified near $6.38-$6.39, while resistance around $6.41 was tested multiple times.
- The consolidation above $6.40 suggests further upside potential if momentum holds.
