Uniswap's UNI Token Breaks Out of Descending Triangle

Uniswap's UNI token has broken out of a descending triangle that had been restricting its price movement since last year. The token traded near $9.61 on September 26 after a third-quarter advance, and market data shows a modest pullback as buyers defended the $9.33 support area.

The breakout from the triangle follows a rally from $2.35 to $10.85 during the quarter. Uniswap v4 led tokenized-stock DEX trading with 40.7% share, while Uniswap v3 captured 19.4%, processing a combined 60.1% of tokenized-stock DEX volume over the last 30 days.

The next major hurdle for UNI price is $12.30, and buyers need to sustain a move above this area to strengthen the breakout structure. If sellers force a break below $9.33, the short-term setup would weaken, exposing support at $8.37.