Uniswap’s governance token continues its impressive comeback, trading above $7.46 Tuesday after rallying 70% from its yearly low of $4.551 on April 7. The token has logged seven weekly gains in the past eight weeks—its longest positive stretch since early 2023—and is now firmly trading above key resistance levels that capped earlier recovery attempts.
The broader structure now reflects a classic bullish reversal, with a prolonged downtrend giving way to sharp rebounds, strong support formation, and improving sentiment around Uniswap’s on-chain governance and market role. Buyers absorbed a sharp drawdown earlier in the session and quickly stepped back in, establishing a new base around $7.14–$7.17.
That support zone now defines the lower bound of the token’s recent trading range. The latest rally saw the token push through prior local highs despite some intraday profit-taking near the $7.52 mark. The consistent pattern of higher lows and strong volume near key inflection points indicates a potentially sustainable uptrend, though a clean break above $7.60 would likely be needed to confirm a full momentum shift.
Technical Analysis Highlights
- UNI traded in a 24-hour range of $0.650, from $7.142 to $7.792, reflecting 8.7% intraday volatility.
- A sharp sell-off bottomed at $7.142 during the 10:00 hour, with volume spiking to 3.96 million—78% above the daily average.
- The following hour saw volume increase to 4.69 million as buyers stepped in, triggering a V-shaped recovery.
- Price reached $7.578 by 15:00 before facing resistance and temporary consolidation.
- At 17:33, UNI dipped to $7.37, followed by a surge between 17:37 and 17:39, with volume rising to nearly 3x the hourly average.
- Price peaked at $7.53 during the 18:00 candle with volume of 162K, representing a 5.8% gain from the hour’s low.
- Despite some profit-taking near $7.52, price action held above mid-range, extending the recovery into a more defined uptrend.
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