Uniswap (UNI) price stabilized around $6.18 on Friday, following a 26% rally the previous day. Key on-chain metrics—including rising Total Value Locked (TVL), Open Interest (OI), and token volume—paint a bullish picture. Technically, UNI signals a breakout, suggesting a trend reversal and upward momentum.
On-Chain Data Suggests Rally Ahead
1. Total Value Locked (TVL) Surge
- UNI’s TVL jumped from $4.05B** (Tuesday) to **$4.58B (Friday), the highest since February 24.
- Higher TVL reflects increased user activity and asset utilization in Uniswap protocols.
👉 Why TVL matters for DeFi growth
2. Rising Token Volume & Open Interest
- Daily token volume hit $500M (Friday), a peak since February.
- Futures OI soared from $240.87M** (Monday) to **$359M (Friday), indicating new capital inflow and bullish sentiment.
Technical Analysis: Bullish Breakout Confirmed
Double-Bottom Pattern Breakout
- UNI formed a W-shaped double-bottom near $4.77 (support level).
- Price broke above the neckline ($6.04), confirming reversal.
- Target: $7.38 (20% upside from current price).
Indicators Support Upside
- RSI (64): Above neutral 50, showing bullish momentum.
- MACD: Bullish crossover (Thursday), signaling upward trend.
Key Risks
- If UNI closes below $6.04**, it may retest **$4.77 support.
FAQ Section
1. What does UNI’s TVL increase indicate?
Higher TVL suggests growing user engagement and liquidity in Uniswap’s ecosystem, often a precursor to price rallies.
2. How reliable is the double-bottom pattern?
While not foolproof, it’s a widely recognized reversal signal, especially when confirmed by volume and other indicators like RSI/MACD.
3. What’s the short-term price target for UNI?
The pattern’s measured move points to $7.38, contingent on sustained bullish momentum.
👉 Learn more about trading patterns
Disclaimer: This analysis contains forward-looking statements. Cryptocurrency investments involve risks. Conduct independent research before deciding.
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