Uniswap ($UNI) Hovers Near $3.79 Amid Loss of Momentum

Uniswap ($UNI) is currently trading near $3.79 after experiencing a modest loss of 1.73% on the day, with a trading volume of $183.27 million, marking a 6% drop.

This loss in momentum comes despite the overall uptrend in the market, and it's worth noting that buyers are not rushing to get involved.

The asset is forming a rising wedge, with buyers consistently defending higher lows while price presses into the upper trendline.

A breakout above the wedge resistance would shift the momentum firmly back to the bulls, opening the door to the next leg higher. However, until Uniswap breaks above resistance with conviction, the setup remains unconfirmed but constructive.