Uniswap Price Prediction Targets $10 After Strong Surge and $89B Open Interest Spike

Uniswap (UNI) is trading within a consolidation phase after posting a steady rally from below $7.50 to above $9.50.

The upward move, which began on July 7, encountered resistance just past $9.50, prompting a pause in momentum. Price has since stabilized near the $9.00 zone as market participants reassess direction. At the time of writing, UNI trades at $8.97, reflecting a 1.74% daily decline.

Technical Structure Holds Above Support as Traders Await Breakout

The 1-hour UNI/USDT chart from Binance displays a clear trend shift, with the price forming higher lows before stalling near the $9.50 resistance level. After reaching the peak, UNI entered a narrow range between $8.90 and $9.30, suggesting short-term uncertainty.

This range has acted as a zone of indecision, where neither buyers nor sellers have taken definitive control. However, UNI remains above previous breakout levels, keeping the overall market structure intact.

Source: Open Interest

Buyers have shown a pattern of stepping in during dips throughout the rally, especially above the $8.60–$8.80 support region. This accumulation pattern reinforces the token’s upward trajectory unless a breakdown occurs below these levels.

The $9.30 level now stands as the immediate resistance, and a successful break above could lead to a push toward the $10.00 zone. If the price fails to move past this resistance, the range may extend further or initiate a mild correction.

Momentum and Volume Indicators Reflect Bullish Sentiment

Additionally, UNI’s trading volume reached $783.26 million over the past 24 hours, with the most active trading period occurring between 12:00 and 18:00. This period coincided with the price testing the upper boundary near $9.15, suggesting short-term speculative interest.

However, as volume tapered off in later sessions, price movement turned sideways, indicating a lack of follow-through. Market cap currently stands at $5.41 billion, placing UNI at Rank 33 among global digital assets.

Source: BraveNewCoin

Global open interest surged in tandem with price action, peaking at $89.2 billion before flattening to $89.046 billion during the ongoing consolidation. This elevated open interest indicates that leveraged positions remain active, and a significant breakout or breakdown could trigger volatility.

The sustained high open interest reflects market conviction, with traders closely watching for a directional catalyst. A sharp move in either direction could liquidate opposing positions and accelerate price momentum.

Indicators Support Constructive Bias Despite Cooling

On the other hand, from a momentum perspective, the MACD remains in bullish territory, with the MACD line at 0.496 and the signal line at 0.345. The histogram remains positive at 0.151, although recent bars have shortened, indicating potential weakening of momentum.

A crossover below the signal line would point to a short-term correction, but as long as the price remains above $8.60, the bias remains tilted toward continuation.

Source: TradingView

The Relative Strength Index (RSI) is currently at 65.28, remaining in bullish territory without indicating overbought conditions. The RSI has exhibited a consistent upward trend since June, indicating sustained interest in the token.

No immediate signs of bearish divergence are present, but traders should monitor levels above 70 for potential short-term reversals. As long as RSI holds above the midline and MACD maintains bullish separation, UNI may attempt to revisit the $9.50–$10.00 resistance zone in the coming sessions.