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UNI Recovers to $6.18 After High-Volume Breakdown Shakes Support
Uniswap’s token briefly plunged on heavy volume, breaking support near $6.00 before buyers stepped in to reverse the slide.
Jun 1, 2025, 7:17 a.m.
What to know:
- UNI posted a volatile 3.78% trading range, climbing to $6.19 before a sharp pullback broke the $6.05 support on heavy volume, according to CoinDesk Research's technical analysis data model.
- A rapid sell-off saw prices dip to $5.94, with over 455,000 units traded at 01:38 during peak selling pressure.
- Buyers quickly stepped in, driving UNI back to $6.18 and reclaiming short-term momentum despite earlier technical weakness
Uniswap’s native token initially broke below its uptrend line after failing to hold momentum above the $6.00 support level.
The decline followed the formation of an ascending channel earlier in the day, but that structure collapsed under high-volume selling, including a spike of over 1.4 million units as prices briefly touched $6.00.
STORY CONTINUES BELOW
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However, the breakdown proved temporary. UNI quickly reversed course and climbed back to $6.18, indicating strong dip-buying interest and suggesting the uptrend may still be intact if support near $6.05 continues to hold.
Technical Analysis Highlights
- UNI formed a clear ascending channel throughout most of the day, with notable support at the $6.00 level backed by above-average volume.
- A sharp reversal occurred as UNI briefly broke below its uptrend line, triggering high-volume selling.
- Two significant volume spikes occurred: over 455,000 units at 01:38 and exceeding 1.4 million units at 01:42.
- The token quickly rebounded after the breakdown, regaining ground and pushing back toward the $6.18 area.
- Initial resistance was encountered at $6.19, which now appears within reach again as bullish momentum returns.
- The price action showed a substantial intraday range of 0.226 (3.78%), highlighting persistent volatility
External References
- "Uniswap Rally Loading—Here’s Why The Next Move Could Be Explosive", NewsBTC, published May 31, 2025.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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