Uniswap (UNI) is trading at $4.09 on Monday after posting daily gains. Data shows steady activity and rising derivatives participation. Analysts said that the token now sits at a technical point that could determine its next major price direction.

According to CoinMarketCap, UNI rose 4.58% in the past 24 hours. The token also recorded an 11.28% increase over the past seven days. Trading activity strengthened during the same period. The trading volume reached $185.82 million, reflecting an 8.06% increase.

Source: CoinMarketCap

UNI Forms Bullish Triangle as Traders Await Breakout

Analysts say the asset is approaching a decisive phase. Crypto analyst Ali Martinez highlighted that UNI is forming an ascending triangle pattern on the chart. This structure often signals a possible breakout. Martinez said the pattern could lead to a 30% price move once confirmed.

However, the token remains trapped in a narrow range. Price action sits between resistance at $4.20 and ascending support near $3.80. Analysts describe this zone as a no-trade area. Traders are waiting for a clear move beyond either boundary.

A confirmed breakout could shift market sentiment. Martinez said a four-hour candle close above $4.20 would validate bullish momentum. If this happens, technical projections place the next target between $5.00 and $5.30. This area represents a liquidity cluster that may attract trading activity.

Source: X

A breakdown scenario also remains possible. Losing the $3.80 support level would invalidate the current structure. Analysts warn that such a move could trigger a sharp decline. In that case, UNI may drop toward the February lows near $2.80.

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Until the range breaks, analysts expect limited directional movement. The token is currently moving inside a $0.30 band. Traders are watching closely for a sustained close outside this zone. A clear breakout or breakdown would likely define the next trend.

UNI Holds Critical Multi-Year Support

Additionally, another analyst, UniChartz, mentioned the token’s long-term pattern. According to the analyst, UNI has remained in consolidation since mid-2022. The price has traded inside a wide range between $4.00 and $14.00.

Currently, the token sits near the lower boundary of this long-term range. This area represents an important level for market participants. If support fails, the next key zone appears between $2.20 and $3.00. Data shows buyers previously stepped in around that region.

Source: X

Open Interest and Derivatives Volume Climb

Derivatives market activity also increased during the recent session. CoinGlass data shows that open interest rose 9.46% to $287.36 million. Trading volume in derivatives climbed 17.97% to $215.53 million. The OI-weighted funding rate stands at 0.0048%, indicating slightly positive positioning among traders.

Source: CoinGlass

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

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