UNI Price Rally May Be Running Out of Steam

UNI (Uniswap) has seen a 5.7% intraday surge to $4.62, but momentum is already flatlined and the price is hugging the upper Bollinger Band.

The setup is interesting because UNI is trading above every major moving average on the daily timeframe, indicating a clean bull structure.

However, the timing of this move is suspect, with the Stochastic at 86.44 confirming that the short-term cycle is stretched and not extending.

The key levels to watch are $4.85, which coincides with the upper Bollinger Band, and $4.38, which is a critical near-term level and aligns with immediate support.