Uniswap Breaks Above Key Resistance Zone with Backing from Increased Volume

Uniswap's price has broken above a key resistance zone that had capped prices for months, and the move is backed by a real jump in volume. The decentralized exchange protocol allows users to trade tokens directly from their wallets without a centralized order book.

The on-chain data shows 386,945 holders, up slightly over the past period, with an on-chain market cap at $4.04B against a circulating-supply market cap of $2.53B. The whale concentration is notably high, with whales making up just 0.23% of holders but controlling 96.40% of market cap.

The RSI (14) is running hot at 67.18, approaching overbought territory, which reflects the strength of the current move but also raises the chance of a near-term cooldown. If UNI holds above $3.6935 and clears $4.1770, the next level is $4.8032.

CoinGabbar analysts say that UNI's breakout is backed by real volume up nearly 20% in 24 hours rather than a thin, low-liquidity move, which adds some credibility to the trendline break.