Uniswap’s UNI Pushes Higher Amid Volatile Market, Bulls Hold Key Support
Uniswap’s native token, UNI, extended its recent recovery despite ongoing macroeconomic uncertainties and global trade tensions. The cryptocurrency climbed steadily from $6.09 to $6.40, solidifying important support above the $6.30 level.
Market volatility remains elevated due to geopolitical risks and speculation around potential rate cuts in both Europe and the U.S. However, UNI appears to be benefiting from a rotation into altcoins as traders search for growth opportunities, maintaining strength amid the choppy market environment.
Early in the session, a sharp surge in trading volume at around $6.56 signaled a possible short-term peak. Despite this, any pullbacks faced strong buying interest, reinforcing a bullish outlook and keeping UNI on course for further upside — provided it holds above the $6.30-$6.33 support zone.
Technical Highlights:
- Over the past 24 hours, UNI gained 5.09%, moving from $6.09 to $6.40 despite pronounced price swings.
- A clear uptrend formed with higher lows, though resistance near $6.57 was met with heavy selling pressure and elevated volume (3.89 million units) around 02:00, creating a significant resistance area.
- Buyers consistently defended support between $6.30 and $6.33, with the overall trading range of $0.49 (about 8% of the starting price) reflecting notable volatility.
- In the final hour, UNI showed a recovery pattern, briefly dipping to $6.36 before making higher lows and highs.
- Volume spiked to 56,320 units at 07:59, indicating strong buyer conviction.
- Price action established solid support around $6.38-$6.39, with multiple tests of resistance near $6.41.
- Sustained consolidation above $6.40 points to the potential continuation of UNI’s broader bullish momentum.
