Uniswap Price Breaks Trendline, Targets $7 in Multichain Expansion Catalyst
Uniswap's price has broken above a long-standing descending trendline, and investors are eyeing the next target at $7. The UNI token is currently trading near $6.27 after recovering from a June low of $2.80. Whale accumulation near $5.76 has strengthened the setup, with one large wallet accumulating approximately 294,680 UNI worth $1.7 million.
The whale's average acquisition price was $5.76, and UNI is now trading above that level, placing their position in profit based on the current market price. The accumulation also occurred around the same region where Uniswap reclaimed its lost ground during its latest rally.
Uniswap's multichain expansion has provided a fundamental catalyst for the price breakout, with Robinhood Chain contributing roughly 66% of Uniswap's fees across 47 chains. Continued trading volume and liquidity on the chain would strengthen Uniswap's multichain growth profile and provide additional support for the protocol's broader DeFi position.
For UNI investors, a daily close above $7 followed by a successful retest would confirm the breakout and shift the immediate structure toward higher highs. A move above $7.50 could expose $8, with the $9-$10 region becoming the next major area of interest.