CoinDesk 2025-06-03 09:40:16

Uniswap’s UNI Rallies Above $6.37 as Bulls Brush Off Trump’s Tariff War

Uniswap's native token UNI extended its recent recovery rally, brushing off macroeconomic pressure as investors looked past heightened global trade tensions. The token climbed steadily from $6.09 to $6.40, establishing key support above the $6.30 level. Market volatility remains elevated, fueled by geopolitical risk and speculation surrounding rate cuts in Europe and the U.S. Still, UNI appears to be benefiting from risk rotation as traders seek upside in altcoins, with price holding firm despite choppy conditions. A sharp spike in volume during the early hours of the session, particularly at $6.5557, marked a potential short-term top. However, subsequent pullbacks were met with aggressive buying, reinforcing a bullish bias and keeping UNI on track for further gains — provided it can sustain price action above the $6.30-$6.33 zone. Technical Price Highlights UNI exhibited strong bullish momentum over 24 hours, climbing from 6.09 to 6.40, representing a 5.09% gain despite significant price swings. The token established a clear uptrend with higher lows until encountering resistance at 6.57, followed by a sharp rejection with abnormally high volume (3.89M) at 02:00, creating a high-volume resistance zone. Support has formed around the 6.30-6.33 range where buyers consistently stepped in, while the overall range of 0.49 (8.07% of starting price) demonstrates substantial volatility. In the last hour, UNI experienced significant volatility with a notable recovery pattern, dropping to 6.36 before establishing higher lows and highs. Volume spiked dramatically to 56,320 at 07:59, confirming buyer conviction at these levels. Price action formed a clear support zone around 6.38-6.39, while resistance near 6.41 was tested multiple times. Consolidation above 6.40 suggests potential continuation of the broader bullish momentum.