Uniswap (UNI) experienced an 18% surge in price, reaching $8, with a significant increase in daily trading volume by over 144%.
The overall crypto market cap stands at $3.45 trillion, with major assets like Bitcoin at $109.5K and Ethereum at $2.7K witnessing positive movement.
UNI broke key resistances at $7.46 and $8.53, currently trading at around $8.38 with a market cap of $5.26 billion.
Uniswap's daily trading volume spiked to $1.18 billion, while $3.62 million worth of Uniswap liquidations were observed in the last 24 hours.
UNI recorded a weekly gain of 24.88%, starting from a low of $5.86 and climbing towards the current trading levels.
Uniswap's price direction suggests a potential retest of resistance at $8.41 or an upside towards $9, barring any bearish sentiment.
Technical analysis indicates a bullish momentum, with the possibility of further price increases, as shown by the MACD crossover and CMF indicator.
However, the asset's RSI at 77.35 suggests overbought conditions, potentially leading to a pullback, though currently, bulls are dominating as per the BBP value of 1.380.