What to know:
- UNI is up 1.56% in the past 24 hours, trading at $7.4671 after peaking near $7.76. Not too shabby, huh?
- The token has rallied a whopping 70% from its April 7 low of $4.551. Talk about a glow-up! 💅
- A strong bounce from $7.14 on heavy volume formed a V-shaped recovery. V for Victory, or V for Very impressive?
Uniswap’s governance token is strutting its stuff, trading above $7.46 on Tuesday after a jaw-dropping 70% rise from its yearly low of $4.551 on April 7. Seven weekly gains in the past eight weeks? Someone call the Guinness World Records! 📈
The broader structure now reflects a classic bullish reversal. It’s like watching a caterpillar turn into a butterfly, but with more charts and less nature. Buyers absorbed a sharp drawdown earlier in the session and quickly stepped back in, establishing a new base around $7.14–$7.17. Who knew support could be so supportive?
That support zone now defines the lower bound of the token’s recent trading range. The latest rally saw the token push through prior local highs, despite some intraday profit-taking near the $7.52 mark. It’s like a game of Whac-A-Mole, but with money! 💰
Technical Analysis Highlights
- UNI traded in a 24-hour range of $0.650, from $7.142 to $7.792, reflecting 8.7% intraday volatility. Buckle up, folks!
- A sharp sell-off bottomed at $7.142 during the 10:00 hour, with volume spiking to 3.96 million—78% above the daily average. Someone was buying the dip like it was on sale!
- The following hour saw volume increase to 4.69 million as buyers stepped in, triggering a V-shaped recovery. V for Victory, again!
- Price reached $7.578 by 15:00 before facing resistance and temporary consolidation. It’s like a rollercoaster, but with less screaming.
- At 17:33, UNI dipped to $7.37, followed by a surge between 17:37 and 17:39, with volume rising to nearly 3x the hourly average. Talk about a comeback!
- Price peaked at $7.53 during the 18:00 candle with volume of 162K, representing a 5.8% gain from the hour’s low. Can I get a round of applause? 👏
- Despite some profit-taking near $7.52, price action held above mid-range, extending the recovery into a more defined uptrend. It’s like a phoenix rising from the ashes, but with more numbers!
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2025-06-18 22:29