UNI Token Hits Resistance at $3.72 After 8% Surge

Uniswap's UNI token saw an impressive 8.47% surge to $3.61, but its rally has been stalled by a cluster of moving averages that could determine whether it breaks through resistance at $3.82 or gets rejected back towards support.

The move above the 7-day and 200-day simple moving averages at $3.36 and $3.43 respectively was notable, but the token's price has not yet reclaimed the 50-day SMA at $3.65 or the 20-day SMA at $3.72, leaving it stuck in a 'no-man's land'.

Momentum indicators reflect this hesitation, with the relative strength index (RSI) stalled at 49 and the moving average convergence divergence (MACD) histogram printing near zero, indicating that the sustained bearish cross is neutralizing rather than reversing.