Uniswap Fee Switch Sparks Price Surge Amid Ongoing Bearish Momentum
Uniswap (UNI) price has surged 7.2% in a day to $9.688, indicating ongoing momentum across both short-term and longer timeframes.
The recent approval of the fee switch by Uniswap governance has enabled UNI holders to receive protocol fee distributions for the first time, creating a direct value accrual mechanism that increases utility and appeal within the DeFi ecosystem.
Trading volume has surged 88% above average, reflecting heightened market engagement and contributing to current demand. However, bearish momentum signals persist, with the RSI signaling Sell at 42.5 and both Stochastic RSI and CCI highlighting oversold conditions.
The expected range for the next 2-3 sessions is $8.801 to $10.4704, with a 70% probability of decline, making a sideways move within this corridor the baseline scenario.