Uniswap’s recent price action points to the possibility of continued upward momentum, which continues to attract the attention of investors in the DeFi sector. Uniswap is showing bullish signals by retesting key resistance levels.
Market sentiment is positive with decreasing selling pressure and increasing Open Interest. Uniswap (UNI) is triggering speculations that are increasing the potential of the DeFi space with remarkable price movements and increasing network activity.
Breakout Signals in Price Movements
Uniswap’s price charts are showing a clear upward trend as it retests its major resistance at $17.12, with strong support at $12.60. The Average Directional Index (ADX) is at 39.72, indicating the presence of a strong trend, while the Moving Average Convergence Divergence (MACD) is making a slight bearish divergence.
However, the general bullish sentiment remains and forecasts predict that the price could break out towards $20. If UNI breaks through this resistance, a prolonged bull run could begin.
Address statistics highlight the increasing network activity, with active addresses increasing by 23.94% in the last week and new addresses growing by 8.42%. This increased participation is increasing interest in UNI in line with its benefits in the DeFi ecosystem. The strong interaction is building confidence among investors, in line with the price momentum.
Uniswap’s total transaction count increased by 1.12% in the last 24 hours, reaching 6.7K transactions, according to CryptoQuant analysis. Although this change is modest, it provides activity that shows continuity in the network. In addition, a 0.64% decrease in exchange reserves during the same period indicates that selling pressure has decreased. This decrease indicates that investors prefer to wait for future gains rather than sell their tokens, creating a positive environment for a sustainable price increase.
Open Interest increased by 5.67% to $264.24 million, reflecting growing confidence in UNI. This increase reflects growing confidence in UNI’s near-term potential. At the same time, such increased interest is often associated with significant price movements, providing further evidence of sustained growth.
Uniswap is well-positioned for further growth, with strong price action, increasing user adoption, and decreasing selling pressure. If UNI breaks through the major resistance at $17.12, a rally to $20 or higher seems quite possible.