• Uniswap (UNI) hit a record monthly trading volume of $116B in October amid the UNIfication proposal.
• Price is consolidating near $7.22, capped by dense EMA and Fibonacci resistance around $8–$10.
• Strong long-term support exists at $6–$6.50, keeping deeper bearish trends at bay.

Uniswap’s native token, UNI, reached an all-time high monthly trading volume of $116 billion in October, signaling heightened market activity and investor interest.

The surge coincides with the recently proposed “UNIfication” plan, which aims to activate protocol fees and burn 100 million UNI tokens.

If implemented, this could redirect roughly one-sixth of trading fees into a revenue pool, effectively creating a quasi-buyback mechanism. Analysts suggest this dynamic might enhance value capture for token holders and tighten supply over time.

Despite the record volume, UNI is currently trading at $7.22, reflecting a year-to-date gain of 554.3%. While trading activity has spiked, price action indicates the market is in a midterm consolidation phase rather than a confirmed bullish trend.

Also Read: Uniswap (UNI) Price Surges 52%: Bull Flag Signals $14 Target

Fibonacci Levels Highlight Key Resistance and Recovery Targets

The weekly chart illustrates how UNI is standing between strong resistance and strong support on a long-term chart. The four main EMA lines (20, 50, 100, 200) are tightly bound within a range of $7.71 and $9.77.

The present market is slightly below the 20-EMA, indicating that short-term market forces are trying to hold on to support, but there is no positive momentum.

The Fibonacci retracement levels also show resistance points that are evident by utilizing the Fibonacci retracement tool on the swings from $19.47 to $2.52. The 0.236 resistance is at $5.97, while the 0.382 resistance is at $8.87.

If UNI breaks above $8.87, which is also its 100-EMA, this will provide evidence of a strong bull recovery to $12.82, which is at 0.618 Fib. The other targets at $30, $47, $64, and $75 are long-term targets that depend on a bull market.

The momentum indicators represent weakness rather than strong sell signals. The 14-week RSI is hovering close to 46, which is slightly lower than neutral and indicates weak bearish to neutral markets.

The MACD is also flattening, with histogram bars close to but within negative territory, indicating weak selling pressure but no sign of market dominance by buyers yet.

Uniswap Supported by Key $6–$6.50 Demand Zone

UNI is still backed by a horizontal zone of demand between $6 and $6.50, which has served as a strong level of support over time. The token is protected against any kind of correction by staying above this level on a weekly close.

The token is restricted on the upside by the EMA/Fibonacci region between $8 and $10. Traders and investors alike are eager to see a strong close outside this range on a weekly basis.

A breakout above $8.87-$10 could represent the beginning of a strong positive momentum cycle, while a breakdown below $6 could see UNI experience strong selling pressure once again.

Volatility is currently strong, signposting that strong Price Fluctuations could continue to occur within this period.

Also Read: Uniswap UNI Price Rally: Experts Eye $12 Milestone After Governance Boost