UNISWAP’s governance token continues to have an impressive comeback, trading above $7.46 on Tuesday after its annual low hit 70% from its annual low on April 7.
Now, the broader structure reflects the classic bullish reversal, the extended downward trend gives way to sharp rebounds, strong support formation and the sentiment that improves UNISWAP’s on-chain governance and market role. Buyers absorbed the sharp drop earlier in the meeting and quickly stepped in to build a new foundation of about $7.14-7.17.
The support area now defines the lower limit of the token’s most recent transaction range. The latest rally saw the token push at previous local highs, despite profiting in the range of $7.52. A consistent pattern of high lows and strong volumes near close inflection points suggests a sustainable uptrend may be needed, although a clear breakthrough at $7.60 may be required to confirm a full momentum transfer.
Technical analysis highlights
- Uni trades at $0.650 for 24 hours, from $7.142 to $7.792, reflecting an intraday volatility of 8.7%.
- Within 10:00 hours, the sharp sell-off rate was $7.142 and the volume soared to $3.96 million, 78% higher than the daily average.
- The following hours, with buyers’ intervention, the volume increased to 4.69 million, triggering a V-shaped recovery.
- Pricing hit $7.578 between 15:00 and 15:00 before facing resistance and temporary mergers.
- At 17:33, Uni fell to $7.37, followed by a surge between 17:37 and 17:39, with volume rising nearly three times the hourly average.
- The price reached $7.53 in the 18:00 candle and was 162K in volume, an increase of 5.8% from the hourly low.
- While some earnings are close to $7.52, the price action is still above the middle distance, expanding recovery to a clearer uptrend.
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