Uniswap’s UNI token continues to show bullish momentum, extending its rally after a breakout near $6.45 and now trading just below $6.80.
The price action is supported by explosive trading volume and clear whale accumulation in derivatives markets.
Institutional long positioning appears to be reinforcing the uptrend, with UNI outperforming broader Ethereum-based tokens.
As Bitcoin’s dominance softens, the persistent strength in UNI suggests market participants may be rotating into high-cap altcoins with upside breakout potential.
Technical Analysis Highlights
- UNI surged from $6.45 to $7.00 on June 3, posting a 10.5% intraday gain backed by a 16.4M volume spike—10x above the 24-hour average.
- Current price hovers near $6.79, up approximately 6.5% over the past 24 hours.Key support formed around $6.56–$6.60 after the breakout, with consolidation between $6.60 and $6.75 confirming healthy retracement.
- Price action continues within a rising channel, with higher lows and breakout volume patterns suggesting sustained bullish momentum.
- Resistance remains near $6.93–$7.00; a clean break above this zone could spark a fresh leg higher.
- A brief dip to $6.67 around 07:36 was met with renewed buying, with follow-through strength lifting UNI to $6.78 by 09:15.
- Volume spikes during the 07:21 and 08:00 candles support the idea of institutional buyers accumulating at higher lows.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
