Uniswap’s UNI Eyes $7 as Whale Activity and Volume Surge Fuel Bullish Breakout
Uniswap’s native token, UNI, is gaining momentum after breaking a key resistance level near $6.45, supported by a surge in trading volume and aggressive whale accumulation in derivatives markets.
Currently trading near $6.79, UNI has outperformed most Ethereum-based tokens, as institutional long positions appear to be reinforcing the uptrend. The shift comes amid softening Bitcoin dominance, suggesting that capital may be rotating into high-potential altcoins like UNI.
Technical Overview:
- Breakout & Volume Surge: UNI rallied from $6.45 to $7.00 on June 3, marking a 10.5% intraday jump accompanied by 16.4 million in trading volume — over 10 times the 24-hour average.
- Support Formation: Following the breakout, key support established around $6.56–$6.60. The token has since consolidated within the $6.60–$6.75 range, reflecting healthy retracement and buyer control.
- Trend Structure: UNI remains in a well-defined rising channel, printing higher lows with strong volume confirmation — a bullish continuation signal.
- Resistance Levels: Immediate resistance lies at $6.93–$7.00. A decisive breakout above this range could trigger the next leg higher.
- Buy-Side Pressure: A short-lived dip to $6.67 at 07:36 was quickly absorbed, with renewed buying lifting prices back to $6.78 by 09:15.
- Volume Analysis: Notable spikes during the 07:21 and 08:00 candles suggest institutional buyers are accumulating at elevated levels, bolstering the bullish case.
As UNI holds its gains near local highs, traders are now watching for a clean breakout above $7.00 that could accelerate momentum and expand UNI’s leadership within the DeFi sector.
