Uniswap Price Jumps 122%, Eyes $7.8 Breakout

The price of Uniswap (UNI) has surged by 122% to around $5.14, but despite this significant gain, large holders on Binance are still accumulating rather than selling into strength.

A recent analysis shows that roughly 5,300 UNI tokens have been leaving Binance on average each day, which reinforces the supply-side bullish narrative.

The price of UNI has broken above a prolonged descending channel and reclaimed the $4.50-$4.80 resistance zone, but it now faces its key confirmation test.

If successful, this could pave the way for a move towards $7.80, which is the next major higher-timeframe resistance highlighted by the chart.