Uniswap Price Struggles to Break Key Resistance at $3

Uniswap's price is hovering near the $3 mark, showing a loss of short-term momentum within an overall uptrend. At the current level of $3.79, UNI has dropped by 1.73% on the day, with trading volume at $183.27 million, a 6% decrease.

The asset is forming a rising wedge pattern, where buyers consistently defend higher lows while price presses into the upper trendline. This compression tends to precede a decisive move, but it's unclear whether buyers will break through resistance cleanly.

A strong breakout above the wedge resistance would shift momentum firmly back to the bulls and open the door to the next leg higher. However, if UNI loses its rising wedge support, the setup could flip entirely.