The Uniswap (UNI) price is showing signs of stabilization after a period of volatility. Currently trading near the $6.60–$6.70 range, UNI has held its ground above crucial levels that had caused concern earlier in the month.
The market is now observing whether UNI can build on this stability to achieve a more significant bounce. A notable factor contributing to the recent positive sentiment was the activity of large investors, often referred to as whales. These investors acquired approximately 660,000 UNI, valued at around $4 million, during a significant market sell-off that saw the token dip below $2. Such accumulation patterns often signal perceived value by experienced market participants.
Following this accumulation, the UNI price experienced a 12% increase in a single day, shifting market sentiment from apprehension to cautious optimism. Furthermore, Uniswap has implemented smart wallet functionality across its applications. This upgrade introduces features like gasless swaps and enhanced DeFi interaction capabilities, facilitated by the EIP-7702 standard. While this represents a substantial improvement in user experience, its full impact will depend on the rate of user adoption.
Despite these positive developments, UNI has yet to reach the price levels it achieved in previous years, which may contribute to some investor hesitation.
UNI Price Chart Analysis
Technical analysis of the UNI chart indicates that the token has reclaimed a significant support zone between $5.78 and $5.90. This area has consistently acted as a floor, with buying pressure emerging whenever the price approached it. Following a bounce from this support zone, the UNI price has moved into a fair value gap and is currently positioned just below key resistance levels.
The primary resistance is identified between $6.24 and $6.34. A decisive break above this zone is considered essential for UNI to shift momentum in an upward direction. A clean move past this resistance could potentially propel the price rapidly into the mid-$6 range. Conversely, a failure to overcome this barrier might lead to a retracement back toward the $5.90 level.
A clear demand area is also observed between $5.31 and $5.20. Should UNI lose its current main support, this zone is anticipated to be the next area where buyers might step in. Further downside, towards the $4.80 level, would likely only occur if the broader cryptocurrency market experiences a significant downturn.
Short-Term Outlook for UNI Price This Week
The price trajectory for UNI this week is largely contingent on its ability to maintain its position above the $5.78–$5.90 support zone. If the Uniswap price continues to hold this level, the chart suggests a potential retest of the $6.24–$6.34 resistance. A breakout above this resistance band could pave the way for UNI to reach the $6.60–$6.80 range with minimal obstacles.
Conversely, if the UNI price falls back below support, it is likely to revisit the $5.31–$5.20 demand zone. While this would not necessarily break the overall market structure, it would likely delay any immediate upward price action. A more substantial decline toward $4.80 would become a more probable scenario only if Bitcoin or the broader market experiences a sharp decline.
At present, UNI appears to be in a stable position, supported by recent activity, and poised for another attempt to break through overhead resistance. However, confirmation of a trend shift will likely require stronger upward momentum.