$UNI 🦄 UNI's $5.60 Recovery: Breaking the "Death Cross" Resistance

Uniswap (UNI), currently trading near $4.90 to $5.03, is eyeing the $5.60 resistance level, representing a roughly 14.2% recovery. This $5.60 price point is technically critical as it aligns with the 20-day Simple Moving Average (SMA) and sits just below the $5.67–$5.70 supply zone, which has acted as a firm ceiling throughout December. A high-volume, decisive daily close above $5.60 would effectively invalidate the current short-term bearish structure and signal a shift from consolidation to a new relief rally toward the $6.40–$6.50 target range.

The momentum for this push is fundamentally anchored by the high-stakes "UNIfication" governance proposal, which recently entered its final voting phase to implement a long-awaited fee switch and token burn mechanism. While the 200-day moving average continues to slope downward, signaling a weak long-term trend, the oversold RSI conditions suggest that a bounce is imminent if buyers can defend the immediate $4.74–$4.81 support floor. Successfully reclaiming $5.60 would prove that institutional and whale accumulation (where the top 10 addresses hold 50% of supply) is once again outpacing retail sell-pressure.