UNI Rallies 70% From April Lows With Bullish Pattern Taking Shape, Up 24% in Past 30 Days
Uniswap’s governance token, UNI, is experiencing a significant resurgence, trading above $7.46 on Tuesday following a remarkable 70% rally from its yearly low of $4.551 on April 7th. This marks the token’s longest period of sustained growth since early 2023, showcasing seven weekly gains in the past eight weeks. The price action reflects a classic bullish reversal pattern, overcoming a prolonged downtrend with sharp rebounds and the establishment of strong support levels. Improved sentiment surrounding Uniswap’s on-chain governance and market influence further contributes to this upward trajectory.
The recent rally demonstrates considerable buyer strength. A sharp intraday drawdown was quickly absorbed, establishing a new support base around $7.14-$7.17. This zone now acts as the lower boundary of the token’s current trading range. The price successfully broke through previous local highs, although some profit-taking was observed near the $7.52 mark. The consistent pattern of higher lows and robust volume near key inflection points strongly suggests a sustainable uptrend. However, a decisive break above $7.60 is needed to definitively confirm a complete momentum shift and solidify the bullish trend.
Technical analysis reveals a 24-hour trading range of $0.650, from $7.142 to $7.792, indicating an 8.7% intraday volatility. A notable sell-off bottomed at $7.142, accompanied by a significant volume spike of 3.96 million—78% above the daily average. The subsequent hour witnessed even higher volume (4.69 million) as buyers stepped in, resulting in a sharp V-shaped recovery. The price reached $7.578 before facing resistance and a period of consolidation. Further price action, marked by a brief dip and subsequent surge, showcased continued buyer strength with volume reaching almost triple the hourly average. The price peaked at $7.53, representing a 5.8% gain from the hour’s low. Despite some profit-taking, the price remained above the mid-range, reinforcing the developing uptrend. This positive price action, coupled with strong volume and the established support levels, points toward a potentially prolonged bullish period for UNI.
