Uniswap (UNI) lit up the charts this weekend as traders reacted to a major governance vote. After jumping 17.75% on Saturday and slipping 2.32% on Sunday, UNI was trading up roughly 16.27% from the moment voting opened — moving from $5.30 at 03:50 UTC on 20 December to about $6.16 at press time. What’s driving the move - The catalyst is the “UNIfication” proposal, a high-profile governance measure that would enable protocol fees on Uniswap v2 and on certain v3 liquidity pools. Those fees would be used to burn UNI tokens, and the plan also includes a one-off retroactive burn of 100 million UNI to approximate the amount that would have been destroyed had fees been in place since launch. - Voting is on-chain, had reached quorum at the time of reporting, and closes on 25 December — but the mere prospect of fee-driven burns appears to already be pricing into UNI. On-chain and technical picture - A daily close above $5.97 re-established a bullish structure, while an imbalance between $5.33 and $6.05 could act as a demand zone if price retests that area. - Momentum tools are mixed: the Awesome Oscillator was near a bullish crossover (suggesting buyers regaining control), but On-Balance Volume (OBV) had not yet broken to fresh highs, hinting at some divergence and potentially softer buying pressure underneath the rally. - Liquidity maps (CoinGlass) show a cluster of orders around $5.60–$5.86 — a “magnetic” zone where price might be pulled to sweep liquidity before continuing upward. What traders are watching - A practical approach being discussed in the marketplace: wait for a dip toward $5.60–$5.80 as a buying opportunity, with a near-term upside target around $7 (a previous support turned resistance). - The bullish scenario would be invalidated if UNI drops back below the imbalance at $5.33. Sources and notes - Price and chart references: UNI/USDT on TradingView; liquidity heatmap: CoinGlass. - The information above reflects market observations and the author’s analysis and is not financial advice. Disclaimer: This article is informational only and should not be taken as investment advice. Cryptocurrency trading is high-risk; do your own research before making decisions. © 2025 AMBCrypto Read more AI-generated news on: undefined/news