Uniswap Price Hovers Near $3 as Bears Lose Ground

Uniswap's price has been hovering around the $3 mark, experiencing a modest loss of short-term momentum within an overall uptrend. The asset is currently trading at $3.79 with a 1.73% decline on the day, accompanied by a 6% drop in trading volume to $183.27 million.

The formation of a rising wedge suggests that buyers are consistently defending higher lows while the price presses into the upper trendline. This level of compression often precedes a decisive move, and the question remains whether buyers will show enough conviction to break resistance cleanly.

A strong breakout above the wedge resistance would shift momentum firmly back to the bulls, opening the door to the next leg higher. UNI's market sentiment sits at bullish bias while the rising wedge support holds.