UNI Striving for Breakthrough - Can the Uptrend Reach the $10 Target?

Positive Signal from Burn Token Event

Uniswap (UNI) recently experienced a significant milestone when the protocol announced Unification and burned 100 million UNI tokens. This move drew considerable market attention, as reducing supply is often seen as a supportive factor for token price. Buyer reactions have already begun to appear through recent trading levels, making UNI a focal point for many technical analysts.

Price Development in the Past 24 Hours

Currently, UNI is trading at $5.37, down 2.78% over the past 24 hours, with a range from $5.36 to $5.61. Trading volume during this period reached $1.64M, reflecting increased market activity compared to previous sessions. Although the price is in a low zone, technical indicators have shown signs of a notable recovery.

In the derivatives market, open contracts remain around the $240 million mark, indicating that leveraged traders are maintaining positions cautiously. The (Funding rate) fluctuates around a neutral level, not indicating a strong trend in either direction. Liquidations over the past 24 hours have been relatively light, mainly long positions being wiped out, suggesting this is a phase of position adjustment rather than panic selling.

Market Absorbing Volatility

Looking at the overall picture, UNI has experienced significant volatility from below $5 up to nearly $10, then entered a consolidation phase. Although prices have corrected, the overall upward trend remains intact, indicating the market is absorbing previous fluctuations rather than reversing completely.

The On-Balance Volume (OBV) indicator is a notable bright spot — after a prolonged period of compression, it has now begun to recover sharply, implying that buying momentum is returning. Simultaneously, the RSI is trending upward, showing that buying pressure is increasing rather than just a weak rebound.

Short-Term Price Targets

In the short term, UNI is attempting to break through the downtrend line — a level that has previously rejected multiple upward attempts. However, this effort is now supported by stronger capital flows. If this setup holds, the resistance zone of $6.65-$7.00 will be the next target in the near term.

A sustained breakout above this zone would bring UNI back above the 200-day moving average, a key threshold often used as a trend filter in technical analysis. Maintaining this support could turn the moving average into a support zone, paving the way for a longer-term rally.

Is the Path to $10 Feasible?

Uniswap (UNI) is gradually regaining upward momentum by successfully defending recent lows, indicating selling pressure has weakened. Recent volume spikes reinforce the view that buyers are returning with genuine interest.

From a technical perspective, holding above $6.5 would be a crucial signal to sustain the overall bullish structure. Failure to defend this level could prolong the current consolidation phase, delaying a clear upward trend.

If demand continues to grow, the $7 level$10 will be a key point. A breakout and sustained hold here would open opportunities for a targeted bullish extension, with $12 being the next psychological milestone, followed by efforts to establish value above if momentum continues to strengthen.

In summary, UNI is in the final stretch. The consistent effort to break through resistance levels, combined with improved technical indicators, suggests the market is ready for a major move. The key question is whether buyers can sustain this momentum.