$UNI 🦄 UNI's $7.35 Surge: Defying the Governance Supply Shock
Uniswap (UNI), currently trading near $6.24, is gaining momentum for a push toward the $7.35 resistance level, a potential 17.8% move. This $7.35 mark is technically vital as it aligns with the local high from late November and sits at the upper boundary of the current ascending parallel channel. Reclaiming this level is essential to clear the heavy overhead supply at the $6.98 (20-day SMA) and signal a definitive trend reversal following a 27% monthly drawdown.
The core catalyst for this target is the high-stakes "Fee Switch" final vote (closing Dec 26), which proposes burning 100 million UNI (16% of circulating supply) and activating protocol-level revenue for token holders. While some liquidity providers are cautious, the market is aggressively pricing in this deflationary pivot, with UNI surging 17% in the last 48 hours alone. To reach $7.35, UNI must first decisively flip the $6.40–$6.64 resistance cluster (Upper Bollinger Band) into support. Successfully sustaining price action above $7.35 would open the technical path for a macro recovery toward the $8.16–$8.75 year-end targets.
