Uniswap ($UNI) extended its recovery on Thursday after strong gains in both daily and weekly trading sessions. The decentralized exchange token overcame a key technical barrier, strengthening the bullish sentiment in the market.
Technical Breakout Gives Bulls Control
$UNI traded at approximately $4.43 after rising over 10% in the last 24 hours and nearly 15% over the past week. The token also recorded a daily trading volume above $435 million, while maintaining a market cap of roughly $2.74 billion.
The recent break above the 0.786 Fibonacci retracement level at $4.33 marked a significant shift in market structure. Buyers quickly lifted the price towards the recent swing high around $4.58 before momentum slowed. However, the current consolidation suggests that traders are holding positions rather than taking profits.
Furthermore, moving averages continue to support the uptrend. $UNI is confidently trading above the 20-day EMA at $4.10, the 50-day EMA at $3.92, the 100-day EMA at $3.77, and the 200-day EMA at $3.56. This alignment reflects healthy bullish momentum and reinforces the prevailing upward trend.
Related: Shiba Inu Price Prediction for August 2026: Can SHIB Hold 40% Gains Unlike Emirates and Support Its Search Traffic?
The Directional Movement Index also favors buyers. The Positive Directional Indicator remains significantly above the Negative one, while the rising ADX indicates strengthening trend momentum.
Open Interest Improves Despite Past Weakness
Derivatives data also paints a more constructive picture. Open interest has gradually recovered to nearly $323 million after a sharp decline from peaks above $700 million recorded in late 2025.
Although speculative positioning remains significantly below previous highs, the steady rise suggests that traders have begun to rebuild their exposure. Moreover, increasing open interest alongside rising prices often signals growing market confidence. Consequently, further gains in both metrics could provide additional fuel for $UNI's recovery.
Spot Flows Keep Traders on Edge
Despite encouraging technical indicators, spot market activity still reflects caution. Recent blockchain flow data shows that net outflows continue to exceed inflows, with the latest data indicating roughly $3.36 million leaving exchanges.
Furthermore, there have been recurring spikes of inflows followed by aggressive sell-offs in prior periods, highlighting ongoing profit-taking among market participants. Short bursts of accumulation have emerged in recent months, but they have failed to create sustained buying pressure.
Related: $XRP Price Prediction for August 2026: Can $XRP Break Its Year-Long Downtrend as Grayscale CEO Sells GXRP?
Uniswap ($UNI) Technical Overview
Key technical levels remain in focus as Uniswap attempts to continue its recovery after reclaiming a key Fibonacci resistance.
Upside Levels: $4.58 remains the immediate hurdle, followed by the $4.75–$4.80 resistance zone. A decisive break above these levels could open the door to the $5.00 psychological barrier.
Downside Levels: Initial support stands at $4.33, coinciding with the 0.786 Fibonacci retracement. Below this, $4.13 and the $4.00–$4.10 demand zone offer stronger support, while $3.86 serves as the next downside level should selling pressure intensify.
Trend Structure: $UNI continues to trade above its 20, 50, 100, and 200-day EMAs, confirming a bullish market structure. The rising ADX and dominant Positive Directional Indicator indicate that buyers still control the broader trend despite short-term consolidation.
Will Uniswap Rise?
Uniswap's short-term outlook remains constructive as long as the price holds above $4.33. A confirmed move above $4.58 is likely to enhance bullish momentum and increase the probability of a rise towards the $4.75–$5.00 range. The rising open interest also points to a gradual rebuilding of bullish positions, supporting the recovery.
However, spot market flows continue to show net outflows, indicating that some investors are still taking profits. If buyers fail to defend $4.33, $UNI could retreat towards $4.13 or the $4.00–$4.10 support zone before attempting another move higher. For now, the technical picture favors the bulls, but stronger spot demand will be required to sustain the next leg up.
Related: Cardano Price Prediction for August 2026: Will ADA's Triangle Breakout Happen Before or After the CLARITY Law Deadline?
end-content
