- Uniswap (UNI) has surged over 52% in the past week.
- Monetalis continues accumulating $UNI, now holding 5.84M tokens.
- UNI forms a bull flag pattern, signaling a potential breakout.
- Key Fibonacci levels indicate support at $6.87–$7.53 and resistance up to $14.
Uniswap (UNI) continues its upward price trajectory, showing notable gains in recent trading. Over the past 24 hours, UNI has risen by almost 1.39%, while its weekly performance highlights a remarkable 52.25% surge. At the time of writing, UNI is trading at $7.89.
The 24-hour trading volume stands at $873.31 million, reflecting a decline of 35.25%. The market capitalization is $4.97 billion, down by 1.92%. Despite the slight drop in volume and market cap, the strong weekly gains indicate sustained investor interest and bullish momentum for UNI.
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Monetalis Strengthens Uniswap Holdings
Monetalis has significantly increased its exposure to UNI. The firm acquired 1.92 million tokens, worth $14.95 million, within the past 16 hours. These purchases were made through transfers from B2C2 Group, Wintermute, and Flow Traders.
This acquisition increases Monetalis’ total holdings to 5.84 million UNI tokens, valued at $44.96 million. The acquisition is a clear indication of confidence in the UNI token’s long-term prospects, further securing Monetalis’ hold in the decentralized finance environment. Market analysts point to this kind of acquisition as a positive sentiments boost for other market players to drive a sustainable level of increased prices.
Uniswap Technical Outlook and Key Levels
According to the crypto analyst @CW8900, A bull flag pattern has been established, which follows a strong movement from $4.73 to $10.31. The location of consolidation is happening between $7.5-$8.2, which is an ordinary zone of retreat, signifying low market volume, which ensures an impending breakout.
The major Fibonacci levels also remain significant for guidance here. The support levels are at $6.87 (0.382 Fib) and $7.53 (0.5 Fib), whereas the resistance levels lie between $8.18-$9.12 (0.618-0.786 Fib). Later, another significant level is at the previous high of $10.31, and the extended 1.618 Fib target of $14 stands out as a critical point.
Volume trends reinforce the bullish outlook. Strong buying during the initial phase of an uptrend, accompanied by low buying during a period of consolidation, is characteristic of a bull flag formation. A spike in UNI volumes above $8.2 to $8.3 confirms a breakout to $10 and, further, to $14.
A fall below $7.5 could see UNI fall to $6.87, testing support levels at that level. Overall, UNI is currently in bullish consolidation, having near-term targets of $10-$11 and further Fibonacci values at approximately $14, based on critical levels.
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