Uniswap Rallies 24% in 48-Hour V-Bounce – Can Bulls Defy Looming $7.60 Test?

Key Points

1. Uniswap ($UNI) climbed 15% this week, reaching $7.73, marking a recovery from June’s low of $6.26, with consistent daily trading volume.

2. Uniswap v4 has seen strong adoption, handling billions in trades post-launch, and has surpassed $1 billion in total value locked (TVL) and $86 billion in trading volume within six months.

3. The protocol generates substantial on-chain revenue, ranking among the top fee-generating DEXs with a 7-day average of approximately $2.3 million in daily fees.

4. The $UNI/USDT pair formed a near-perfect V-bottom reversal, jumping 24% to $7.74 in under 48 hours, but sustainability is questioned due to declining volume and bearish MACD divergence.

5. A firm close above $7.8 with increasing volume could invalidate bull exhaustion, while a failure to hold $7.6 might lead to a pullback toward $7.4.