Uniswap’s recent price action reflects a phase of market stabilization following a sharp liquidation-driven decline.

After experiencing high volatility earlier in the week, the asset has now settled near the $6.59 mark, showing signs of cautious accumulation as traders reassess positioning in a lower-volatility environment. The token’s resilience at this range suggests that selling momentum has cooled, though broader confidence remains tentative.

Open Interest Data Shows Sharp Derivatives Unwind

Data from Coinalyze reveals a pronounced drop in aggregated open interest for the Uniswap exchange following the steep sell-off that drove prices briefly toward $2.00. Open interest plunged from highs above 300 million to roughly 144 million, signaling a large-scale liquidation of leveraged positions. This decline underscores a widespread deleveraging event, which has since left the derivatives market in a subdued state.

Source: Open Interest

The hourly price chart shows the token recovering from the liquidation wick and stabilizing between $6.30 and $6.50, a range that appears to be acting as a near-term equilibrium zone. Reduced open interest implies that speculative participation remains limited, suggesting that short-term traders are waiting for clearer directional cues before re-entering. This contraction phase often precedes volatility expansion as liquidity gradually rebuilds across the order book.

Market Data Reflects Stable Fundamentals Despite Weak Momentum

According to BraveNewCoin, UNI currently trades at $6.59, down 0.95% in the past 24 hours, with a market capitalization of $3.95 billion and a 24-hour trading volume of $281 million. The token ranks 43rd among global cryptocurrencies and maintains an available supply of 600,483,073 tokens. Despite the muted short-term movement, the token continues to show robust on-chain activity and consistent liquidity on decentralized exchanges.

Source: BraveNewCoin

The data points to consolidation within the $6.00–$7.00 range, with volume compression indicating that market participants are positioning cautiously after the prior week’s heavy volatility. This stabilization period could provide a base for a gradual recovery if demand picks up, particularly if Bitcoin maintains stability above key psychological levels. On a macro level, the project’s DeFi dominance continues to lend the coin longer-term credibility, even amid broader market weakness.

Technical Indicators Suggest Mixed Outlook on TradingView Chart

At the time of the report, the daily UNI/USDT chart from TradingView presents a balanced but fragile setup. At the time of writing, UNI trades at $6.46, reflecting mild intraday losses. The Chaikin Money Flow (CMF) reading of +0.16 indicates a modest inflow of capital, showing that buyers are beginning to re-emerge after the sell-off. However, momentum remains weak, and sustained accumulation will be required to confirm a recovery trend.

Source: TradingView

Meanwhile, the MACD indicator remains in the negative territory, with the histogram printing small red bars and the signal line below zero. This reflects lingering bearish momentum, though the flattening of both lines hints at possible stabilization. A breakout above $7.00 would serve as an early technical confirmation of renewed bullish strength, while failure to hold above $6.20 could expose the coin to a retest of lower supports near $5.80.