UNI Stabilizes and Rises to $6.18 After Support Shaken by High Volume

Uniswap’s UNI Token Drops Below $6 on Surge in Volume, Quickly Bounces Back to $6.18

Uniswap’s native token, UNI, briefly slipped below the $6.00 support level following heavy selling volume, only to rebound sharply as buyers stepped in to defend key price levels.

Earlier in the day, UNI broke its uptrend line after failing to hold above $6.00, triggered by the breakdown of an ascending channel. This move came amid intensified selling activity, with over 1.4 million tokens changing hands as the price touched the $6.00 floor.

The decline proved to be short-term as strong buying momentum pushed UNI back up to $6.18, signaling sustained demand and the potential preservation of the bullish trend, contingent on support near $6.05 remaining intact.

Technical Summary

UNI maintained an ascending channel for most of the day, with notable support at $6.00 supported by elevated trading volume.

A rapid reversal took place when the token fell below its uptrend line, sparking a wave of high-volume selling.

Key volume spikes included more than 455,000 units traded at 01:38 and a surge above 1.4 million units at 01:42.

Following the breakdown, UNI quickly recovered and moved toward resistance near $6.18.

The immediate resistance level of $6.19 appears attainable again as buying pressure builds.

With an intraday price range of 0.226 (3.78%), UNI’s price action reflects ongoing volatility in the market.