Uniswap Tests Key Resistance at $7.50 Amid Growing Market Participation

Uniswap's price has approached its key resistance level of $7.50, boosted by increased retail buying and a significant rise in derivatives open interest to $501 million.

The market's long positions dominate at 60%, giving bulls an edge but also increasing the risk of liquidations if momentum fades.

Uniswap trades above its key moving averages with strong buyer demand, suggesting potential for a breakout if $7.50 is surpassed with solid spot volume.