Uniswap (UNI) is gaining momentum as UNI approaches a key resistance level, with a breakout potentially strengthening its bullish structure. Meanwhile, large wallet withdrawals from major exchanges point to increased holder activity. The latest Uniswap v4 developments are also keeping market interest focused on UNI and its next potential move.
As of now, according to CoinMarketCap data, Uniswap is trading at $8.85, down 0.82% on the day despite a 38.76% increase over the past week.
Uniswap Price Eyes $50 as UNI Breaks Key $9.50 Resistance
According to a prominent crypto analyst, Crypto Patel, Uniswap has surged 285% from the previously identified accumulation zone. The strong recovery has rewarded patient buyers while bringing the token closer to a major resistance level that could determine its next broader price move.
Crypto Patel highlighted $9.50 as the key level now facing UNI. A breakout and sustained hold above this resistance could strengthen the bullish structure and put successive targets near $14, $26, and eventually $50 into focus.
If UNI fails to clear $9.50, the analyst identified $5.40 as an important support area. A rejection could send the token back toward this level, making the reaction around $9.50 crucial for determining whether the current recovery continues.
After such a substantial rally, Crypto Patel also pointed to partial profit-taking as a risk-management approach. While the broader thesis remains intact, the next major question is whether UNI can break and hold above $9.50 to begin another potential expansion.
Uniswap Gains Momentum as Large Wallets Withdraw $8.38M UNI
The data from Lookonchain further highlights Uniswap’s growing market activity as UNI gains momentum following developments around compliant trading on Uniswap v4. The regulatory development has increased attention around the decentralized exchange and strengthened market interest in UNI.
At the same time, two newly created wallets withdrew a combined 1.07 million UNI, worth approximately $8.38 million, from Binance, Bybit, and OKX. The large withdrawals add to the recent activity surrounding UNI across major centralized exchanges.
The movement of such a large amount of UNI into newly created wallets could reduce the immediate supply available on exchanges. The withdrawals also highlight increased activity among large holders as traders assess the impact of the SEC’s stance on Uniswap v4.
With the regulatory development and sizeable wallet withdrawals occurring alongside UNI’s price surge, market participants are closely watching whether the token can maintain its current momentum. Further exchange flows and wallet activity could provide more insight into the next stage of UNI’s price action.
