Uniswap Reclaims Both Moving Averages After a Long Base

Where the token stands

UNI is trading near 4.08 after spending months building a base between roughly 2.00 and 3.60. The move over the past few weeks has done something the token has not managed in a long time: it has pushed above both the 50-day average at 3.53 and the 200-day at 3.48, and it has stayed there. Those two averages are now clustered together just below the market, which turns a pair of lines into a single, well-defined support shelf.

Momentum supports the move without being extreme. The daily RSI sits near 58, which is the range where trends tend to be sustainable. Readings above 70 attract profit taking; readings in the high 50s usually mean buyers are still in control but have not exhausted themselves.

What the chart is showing

The base itself is the most useful part of this chart. Long, flat accumulation ranges take time to build and they tend to produce durable moves when they break, because the supply that was going to be sold at those prices has already changed hands. The rising line drawn across the higher lows since the low 2.80s now runs close to 3.80 and has not been violated on a closing basis during the advance.

Above the market, the 4.40 to 4.75 zone is the first place where meaningful historical supply appears. It is worth putting that in perspective: the 52-week high sits at 12.30, so even a successful move to 4.75 leaves UNI a long way below where it traded a year ago. This is a recovery within a much larger drawdown, not a new bull market.

Levels that matter

Support begins at 3.53, where the two moving averages converge, and extends down to 3.35, which is the level that would invalidate the recovery. Below that, the base floor near 2.85 becomes the reference.

Resistance is 4.40 first, then 4.75. A daily close above 4.75 would be the first real evidence that the market is prepared to price UNI meaningfully higher rather than simply repairing an oversold condition.

How the idea could play out

The straightforward version is a pullback into the 3.60 to 3.80 area that holds, followed by a push through 4.40. From current levels with a stop below 3.35, the first target is worth roughly half a unit of reward per unit of risk, which is poor. Waiting for a pullback toward 3.70 improves that materially, and it is the difference between a trade worth taking and one worth watching.

That is the honest read here. The structure is constructive, but entering at 4.08 with a stop at 3.35 is chasing. Patience costs nothing except the possibility of missing the move.

What would invalidate it

A daily close below 3.35 puts price back inside the base and undoes the breakout. That would not necessarily be bearish in the larger sense, since the base has held for months, but it would mean the current attempt has failed and the correct response is to wait for the next one rather than average down.

Managing the position

UNI is a mid-cap token, which means it tends to move with the broader crypto tape rather than independently of it. A sharp move in Bitcoin will drag it along regardless of what the Uniswap chart says. Sizing should account for that correlation, and holding this alongside several other crypto positions is functionally one large position rather than several small ones.

Scaling out at 4.40 and moving the remaining stop to break-even is the simplest way to keep a recovery trade from turning into a round trip.

The bottom line

The structure has genuinely improved. Both averages have been reclaimed, the base is long enough to matter, and the invalidation level is clear. What the chart does not offer at 4.08 is a good entry price. The setup is worth tracking; the entry is worth waiting for.

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This analysis is a technical study prepared for educational purposes. It is not investment advice, and no outcome described here is guaranteed. Trade only with capital you can afford to lose.