Uniswap Surges to Six-Month High as Altcoins Bounce

Uniswap (UNI) led gains among top altcoins on Thursday, surging over 10% to reach a six-month high after unveiling Launches, a new feature in its Web App that aggregates tokens across launchpads. The feature allows users to access these tokens within a single tab, filtering by launchpad or sorting by volume and liquidity.

The rally is supported by the reclaimed horizontal floor at $4.20 and reinforced by trend supports below spot price. Momentum is stretched, with an RSI near 74 and Stochastic Oscillator above 96, hinting at overbought conditions that could slow the upside rather than reverse it.

Cardano (ADA) recorded a 5% gain on Thursday, rising above $0.170 alongside top altcoins. The growth is supported by rising open interest (OI) and funding rates in the token. However, ADA faces resistance near the 20- and 50-day EMAs, underscoring a market capped by clustered overhead supply.

Near Protocol (NEAR) also gained 5% on Thursday but retains a bearish near-term bias as price holds below the 20-, 50- and 100-day EMAs. The RSI around 37 hints at persistent weak momentum, while the Stoch near 19 suggests oversold conditions that could allow for brief corrective bounces within the broader downside context.