Uniswap’s UNI Token Surges 70% Off April Lows, Eyes Further Upside
Uniswap’s governance token, UNI, has mounted an impressive comeback, rising 70% from its yearly low of $4.551 on April 7 to trade above $7.46 as of Tuesday. The token has recorded gains in seven of the past eight weeks, marking its strongest upward streak since early 2023, and recently broke through key resistance levels that had capped prior rallies.
UNI’s price action now signals a potential bullish reversal, with the token carving out a pronounced V-shaped recovery supported by persistent buying interest. Solid support has emerged in the $7.14–$7.17 range, where bulls stepped in after a pullback to reignite upward momentum.
This support zone has become the foundation for UNI’s short-term trading range. Though resistance near $7.52 has triggered some consolidation, the pattern of higher lows and robust volume at critical price levels suggests the possibility of more upside. A decisive move above $7.60 would help confirm a broader bullish breakout.
Technical Analysis Recap
- UNI traded in a range of $7.142 to $7.792 over the last 24 hours, representing an intraday swing of 8.7%.
- The sharpest drop took UNI down to $7.142 around 10:00, accompanied by a volume spike to 3.96 million — 78% above the daily average.
- Strong buying followed, lifting volume to 4.69 million and fueling a swift V-shaped rebound.
- UNI climbed to $7.578 by 15:00 before hitting resistance and entering a brief consolidation phase.
- At 17:33, UNI dipped to $7.37 but quickly rebounded between 17:37 and 17:39 as volume nearly tripled the hourly average.
- UNI hit a session high of $7.53 during the 18:00 candle, gaining 5.8% from the hour’s low on volume of 162,000.
- Despite some selling pressure around $7.52, UNI has managed to hold firm above the middle of its range, maintaining upward momentum and supporting the emerging bullish trend.
