Uniswap's UNI has surged 22.41% in the last 24 hours, pushing its market cap to $2.19 billion and trading volume over $560 million.
This recovery trend comes after a prolonged bearish phase, while derivatives data, supply flow on exchanges, and technical signals all suggest that the market is reassessing UNI's position.
MAIN CONTENT
UNI has jumped significantly by 22.41% in 24 hours, with trading volume increasing by more than 110%.
UNI reserves on exchanges have risen to around $313.24 million, reflecting a larger amount of tokens ready for trading.
On Binance, 63.18% of top trader accounts are holding long positions with a long/short ratio of 1.72.
UNI has bounced strongly after an extended weak phase.
UNI, the token of Uniswap, has just recorded a strong bounce after a period of lackluster trading. The price surged by 22.41% in 24 hours, with a market cap reaching $2.19 billion and trading volume exceeding $560 million.
The bullish momentum coincides with the upward trend of many other major altcoins, improving overall market sentiment. The increase in liquidity indicates that the money flow returning to UNI is not just a short-term reaction.
Source: CryptoQuant
Exchange reserves are increasing, but that doesn't automatically mean selling pressure.
The total value of UNI held on exchanges has surged by 29.36% to around $313.24 million. This signals that the amount of tokens ready for trading has increased compared to before.
In many cases, traders transfer assets to exchanges to take profits after a strong rally. However, current data does not indicate that selling pressure will emerge immediately if demand continues to absorb this supply.
Binance still leans towards long positions.
On Binance, the top trader group remains bullish. 63.18% of accounts are in long positions, while 36.82% are short, resulting in a long/short ratio of 1.72.
This structure indicates that experienced traders are still betting on UNI's potential for upward movement. The long/short ratio is high but not overly extreme, suggesting there is still room for positioning before it gets too hot.
Source: CoinGlass
The weekly chart shows UNI testing long-term resistance.
UNI has just bounced off the lower boundary of a multi-month downtrend channel and is approaching the $3.52 level. This move significantly improves the price structure, especially as the token recovers from the support area around $2.35.
The RSI has increased to 45.10 from a deeply oversold area and has surpassed the signal line around 36.38. Although the RSI is still below the neutral mark of 50, the current trend shows that buying pressure is strengthening.
If UNI closes the week above the downtrend channel, the $4.00 level will be a key area to watch before the market turns its attention to stronger resistance around $5.35.
Source: TradingView
Key levels to watch during the rally
The current uptrend is supported by higher volume, dominant long positions, and improving technical signals. The increase in exchange reserves is a factor to watch as it could shift the supply-demand balance if buying pressure weakens.
If UNI breaks decisively above $4.00, the rally could extend. Conversely, if it fails to breach this level, the price is likely to revert to a consolidation phase before forming a new trend.
Summary
UNI is experiencing a strong rally with improved liquidity, trading positions, and technical signals, but the reserve on exchanges remains a variable to monitor.
Source: https://tintucbitcoin.com/uni-tang-22-nguong-quyet-dinh-tuong-lai/
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