Uniswap’s price is showing renewed resilience after stabilizing above the $6.20 level, hinting at a potential short-term bullish reversal.
Market structure, open interest data, and technical indicators collectively point toward improving sentiment, with traders closely watching the $6.45–$6.50 resistance zone for a possible breakout.
Rising Open Interest Signals Growing Confidence
Recent market data highlights that open interest (OI) in UNI has increased notably since the October 18 low, climbing from approximately $150 million to $158 million. This rise in OI, coupled with recovering prices, suggests that traders are re-entering long positions, reflecting growing bullish conviction.
When both price and open interest move higher, it often indicates that new money is entering the market, supporting upward continuation. However, if OI continues to rise while price action stalls, it may imply aggressive short positioning, which could introduce heightened volatility in the near term.
Source: Open Interest
The broader sentiment remains cautiously optimistic as long as the $6.20 support level holds. Sustained accumulation at this level indicates that market participants are positioning ahead of a potential upside breakout, with the next key resistance area located near $6.80–$7.00.
Market Data Points to Steady Activity
According to BraveNewCoin, Uniswap’s current price is $6.20, marking a 3.19% decline in the past 24 hours. The project holds a market capitalization of $3.72 billion, backed by a 24-hour trading volume of $212 million. With a circulating supply of 600.48 million tokens, the asset currently ranks 43rd among all cryptocurrencies by market capitalization.
Source: BraveNewCoin
Despite short-term price weakness, the coins’ liquidity levels remain consistent, suggesting that traders continue to engage actively within current ranges. The combination of steady trading volume and rising OI indicates that positions are building during this consolidation phase, a pattern often preceding a decisive move.
Technical Indicators Show Price Consolidation Near Resistance
At the time of writing, Uniswap trades around $6.21, following a modest pullback after a brief recovery rally from the $5.80 support region. The 1-hour chart shows a structure of higher highs and higher lows, signaling early bullish momentum, though recent candles reveal indecision beneath the $6.40–$6.45 resistance band.
Source: TradingView
The Bollinger Band Power (BBPower) indicator reads –0.362, showing limited volatility and suggesting that the token is in a consolidation phase. Meanwhile, the Chaikin Money Flow (CMF) value of +0.07 signals mild capital inflows, confirming steady accumulation pressure despite muted momentum.
If the coin maintains support above $6.20 and volume begins to expand, a breakout above $6.45–$6.50 could open the door to a potential 8–10% upside move, targeting the $6.80–$7.00 range. Conversely, failure to hold above current levels could trigger a short-term retest of $6.00, where buyers may once again look to defend key support.
