Uniswap’s native token, UNI, has been caught in a wave of intense intraday volatility driven by escalating global trade tensions. Institutional investors remain cautious, resulting in significant price swings and surges in trading volume around crucial support and resistance levels.
The token experienced a wide 10.9% trading range, underscoring how geopolitical uncertainties are exerting pressure on crypto valuations. Traders are oscillating between risk-off strategies and opportunistic buying as the broader market grapples with economic uncertainty.
Despite the turmoil, UNI showed encouraging signs of resilience by pushing back above key resistance zones, indicating the potential for short-term stabilization following a turbulent session.
Technical Highlights:
- UNI’s price fluctuated between 6.589 and 5.945, marking a 0.644 (10.9%) range in the last 24 hours, according to CoinDesk Research.
- A steep selloff occurred between 16:00 and 01:00, with prices plunging from 6.510 to 5.954 amid elevated volume of 4.4 million tokens, establishing a solid support base.
- The token staged a modest recovery, hitting resistance near 6.120 and consolidating within the 6.000 to 6.050 zone, reflecting cautious market sentiment.
- In the final trading hour, UNI dipped to 6.017 before rallying 3.6% to 6.054 on rising volume (28,700 tokens), suggesting renewed buying pressure.
- Price action formed a bullish channel between 6.030 support and 6.055 resistance, closing at 6.051, hinting at possible short-term stability after earlier volatility.
As trade tensions continue to influence market dynamics, UNI’s price movements highlight the ongoing tug-of-war between risk aversion and investor confidence in the crypto space.
