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Uniswap Price Jumps 84% from April Lows – Can the Rally Continue?
Uniswap Price Prediction – Uniswap (UNI) is showing strong bullish momentum after breaking out of an inverse head-and-shoulders pattern on the daily chart, sparking renewed interest in the leading decentralized exchange token.
UNI Price Jumps 20%, Market Cap Flips Aave
UNI surged over 20% in the past 24 hours, reaching a high of $8.61 on June 11. This marks an 84% increase from its April lows, pushing its market capitalization above $5 billion, overtaking Aave (AAVE) in the process.
Trading activity has exploded, with daily volume jumping over 150% to nearly $1.39 billion. In the derivatives market, open interest soared 54%, hitting a record $713 million, while the long/short ratio exceeding 1 suggests traders are leaning bullish.
Technical Indicators Flash Green
On the technical side, UNI’s breakout from an inverse head-and-shoulders pattern was confirmed by a strong bullish daily candle. The asset also formed a golden cross earlier this week — a bullish crossover between the 20-day and 50-day moving averages.
Momentum indicators, including MACD and RSI, are trending upward, supporting further upside. If the bullish structure holds, technical analysis points toward a target near $10.40, representing a 37% gain from current levels and aligning with the 24.7% Fibonacci retracement level.
Smart Wallet Launch and Regulatory Hopes Fuel Sentiment
UNI’s rally is further fueled by Uniswap’s June 10 announcement of a new Smart Wallet, designed to simplify onchain activity with features like gas abstraction and automatic token approvals.
Adding to the momentum, SEC Chairman Paul Atkins hinted at a potential “innovation exemption” for DeFi platforms. This could pave the way for clearer regulations and spark a “DeFi Summer 2.0”, with Uniswap poised to benefit as a major player.
What’s Next for UNI Price?
Daily active addresses on the Uniswap network rose 92% in 24 hours, a sign of increasing user engagement. However, traders are watching key support at $8.20 (23.6% Fibonacci), with a drop below this potentially leading to short-term consolidation.
A break below $7.50 would invalidate the bullish structure, possibly driving UNI toward $4.70 — a stronger accumulation zone.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
