Uniswap trades near $9 after breakout as derivatives volume drops 35%

UNI technical outlook turns positive

Crypto analyst Can Özsüer reported that UNI’s price moved up significantly from its previous range of $2.50 to $3.00, reaching levels near $9. This upward move reflects renewed buying interest following a sustained accumulation phase. UNI previously hovered between $6.00 and $7.00 before breaking above this band, a move that has injected fresh volatility into the market.

Despite the breakout, Özsüer cautioned that momentum appears to be cooling as the token faces resistance around $9. Short-term charts indicate that the price has started to consolidate below this key level, signaling some hesitation among market participants.

Momentum has faded even after the strong breakout, with resistance levels near $9 now acting as a barrier to further upside. Holding above the $8.51 area is crucial for maintaining a bullish structure.

Support and resistance levels in focus

TradingView charts show UNI trading near $8.71, comfortably above its 20-period moving average at $8.51. The token also remains well above the lower Bollinger Band at $7.27, while wider bands suggest increasing volatility following the latest price action. Analysts emphasize that $8.51 now serves as an important short-term support level. Sustaining this price could enable another test of the $9.00 to $10.00 region.

A drop below the middle Bollinger Band would indicate weakening momentum and could lead to a pullback towards the $7.27 support area. Four-hour chart data shows the MACD line at $0.4700, sitting below a signal line at $0.5459, and the histogram has turned negative at approximately -$0.0759, hinting at diminished upward pressure.

Mini dictionary: MACD (Moving Average Convergence Divergence), a popular momentum indicator that tracks the relationship between two moving averages of a security’s price to gauge bullish or bearish trends.

Analysts suggest the current bearish signal from the MACD does not fully offset UNI’s recovery, but signals a likely consolidation ahead of the next clear move.

Derivatives market signals caution

CoinGlass data suggests shifting sentiment in the derivatives market. UNI trading volume in derivatives dropped 34.84% to $1.17 billion, while open interest fell 10.05% to $741.88 million. This simultaneous decline indicates conservative positioning among traders as they reassess UNI’s next potential trend.

Rising price combined with lagging derivatives activity shows traders are awaiting confirmation before increasing exposure. Higher derivatives volume alongside price gains could validate a stronger uptrend, while sustained weakness may point to further hesitation at resistance levels.

Tokenized-stock activity drives DeFi growth

Uniswap’s DeFi ecosystem has seen increased engagement, especially around tokenized stocks. Blockchain data provider Token Terminal reported that the Total Value Locked (TVL) for tokenized stocks in DeFi has risen sharply over the past 30 days, reflecting greater capital flow into Uniswap’s infrastructure. Uniswap V4 recorded value deposits of $54.7 million, and Uniswap V3 added another $28.1 million. Together, both versions accounted for an $82.8 million increase, underlining growing demand for stock-based tokens within decentralized finance.

Mini dictionary: Tokenized stocks are blockchain-based representations of real-world equities, enabling 24/7 trading and fractional ownership within DeFi protocols.

Despite strong DeFi activity and a bullish technical backdrop, the fall in derivatives market participation signals an atmosphere of caution. How UNI holds its support levels in the coming sessions will be monitored closely for clues about its next direction.