Uniswap (UNI) Hits Double-Top Resistance: Can Bulls Force a Breakout as Momentum Slows?

• Uniswap ($UNI) is hovering near $4 after a gain of over 7%.
• The price failed to break the same resistance on two attempts.

As it is the ultimate day of the month, Uniswap ($UNI) is trading within the $4.36 mark, steadily up by over 7.30%. Meanwhile, the session has ranged between a low of $4.06 and a high of $4.55.

Significantly, the daily trading volume has exploded by 98% to the $527.17 million range. Moreover, the $UNI market has seen the liquidation of $1.82 million during the last 24 hours, according to Coinglass data.

The price has tested the same resistance level twice and failed to push through both times. That’s a double top, and it’s one of the more reliable bearish reversal signals when it shows up at a key resistance zone. Buyers have had two chances to break higher and have not managed it.

The neckline is the support level to watch. As long as it holds, the pattern remains unconfirmed, and traders stay cautious. A breakdown below the neckline confirms the double top and opens the door to a deeper pullback.

A massive volume explosion on a double top rejection is a signal worth taking seriously. Big volume at failed resistance means sellers are showing up with conviction.

Key Price Levels of Uniswap

With the current bullish trading pattern, the initial and crucial resistance level could be at $4.63. Assuming the $UNI momentum is gaining more traction, the price might climb and test $4.89. Further upside could trigger the golden cross to take place and set the higher targets in the aim to be broken.

On the downside, if the Uniswap sentiment turns negative, the immediate support might be at $4.12. An extended bearish correction would initiate the death cross emergence, likely pushing the price into a deeper zone below $3.87. This zone acts as a crucial point to decide whether it stalls or slips.

$UNI’s Technical Chart Analysis

The recent chart reveals that the Moving Average Convergence Divergence line is above the signal line. Short-term buying momentum is accelerating, triggering a strong buy signal. Also, both lines are above zero, hinting that the long-term trend is bullish.

Uniswap is in a healthy, high-conviction markup phase, and the buyers are in full control across both short and long-term timeframes. As long as the MACD line remains above the signal line and both stay above zero, the path of least resistance is up.

In addition, the daily Relative Strength Index (RSI) is resting at 67.78, suggesting strong bullish momentum, sitting right on the peak of overbought territory. Sitting above the 50 mark, the asset is experiencing sustained, aggressive buying interest.

The $UNI market is running close to getting stretched, with the trend strongly upward. While momentum is powerful and can continue higher, traders start watching for signs of temporary exhaustion or resistance as it approaches the 70 mark.