Uniswap’s native token, UNI, has seen a significant price surge following its recent settlement with the U.S. Commodity Futures Trading Commission (CFTC). The decentralized exchange (DEX) agreed to pay a $175,000 fine and cease activities related to commodity contracts, effectively closing the case. This settlement has boosted investor confidence, with UNI rising 7.5% to trade around $6.40. Over the past week, the token has surged by 11%, and its trading volume has increased by 150%, signaling renewed interest(The Coin Republic)(MarketBeat).
Technical Analysis and Market Outlook
UNI is currently hovering near the $6 mark, with strong support forming around $5.20. Analysts are optimistic about a continued uptrend, with a potential breakout toward $7 if buying pressure persists. The Relative Strength Index (RSI) remains below 50, indicating a slight bearish sentiment, but increased demand could shift the momentum toward a bullish reversal(The Coin Republic)(Investing.com India).
With its recent gains, UNI has reclaimed its spot as the 21st-largest cryptocurrency by market capitalization. The upcoming sessions will be critical in determining whether UNI can break through key resistance levels and sustain its upward trajectory(MarketBeat).
Uniswap’s strong recovery after its legal challenges and increased market activity suggests a positive outlook, with potential for further growth in the coming weeks.
