Uniswap’s UNI Jumps Toward $7 as Whale-Fueled Rally Reshapes Market Sentiment

Uniswap’s UNI token continues to show bullish momentum, extending its rally after a breakout near $6.45 and now trading just below $6.80. The price action is supported by explosive trading volume and clear whale accumulation in derivatives markets. Institutional long positioning appears to be reinforcing the uptrend, with UNI outperforming broader Ethereum-based tokens. As Bitcoin’s dominance softens, the persistent strength in UNI suggests market participants may be rotating into high-cap altcoins with upside breakout potential. Technical Analysis Highlights UNI surged from $6.45 to $7.00 on June 3, posting a 10.5% intraday gain backed by a 16.4M volume spike—10x above the 24-hour average. Current price hovers near $6.79, up approximately 6.5% over the past 24 hours.Key support formed around $6.56–$6.60 after the breakout, with consolidation between $6.60 and $6.75 confirming healthy retracement. Price action continues within a rising channel, with higher lows and breakout volume patterns suggesting sustained bullish momentum. Resistance remains near $6.93–$7.00; a clean break above this zone could spark a fresh leg higher. A brief dip to $6.67 around 07:36 was met with renewed buying, with follow-through strength lifting UNI to $6.78 by 09:15. Volume spikes during the 07:21 and 08:00 candles support the idea of institutional buyers accumulating at higher lows.

Source: CoinDesk