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Uniswap Bulls Eye $5 as Key Fibonacci Level Falls

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ETH UNI
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Uniswap (UNI) has extended its bullish breakout, pushing above a key Fibonacci level as its upward momentum gains strength. The decentralized exchange token's price has increased in both daily and weekly trading sessions, with $20.91 billion in spot volume over the past 24 hours.

The growing open interest is supporting the recovery, despite remaining below previous cycle highs. However, traders are being cautious due to persistent exchange outflows.

With a market capitalization of over $2.24 trillion and an ETH gas fee of 0.04 Gwei as of July 31, 2026, UNI is eyeing a potential price target of $5.

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