Uniswap’s Price Spikes Ahead Of Mainnet Onset

Uniswap (UNI) price just dropped 1.96% experienced after experiencing a recent 5% price increase during the previous 24 hours after Unichain launched its mainnet.

Uniswap Labs intends to bring fast and low-cost DeFi application capabilities. This caused investor sentiment about Uniswap to become optimistic, causing the token’s price to elevate beyond recent market declines.

Uniswap Labs introduced Unichain as a new Ethereum Layer 2 rollup for DeFi applications.

Unichain offers fees 95% lower than Ethereum L1 at one-second block time speeds, substantially increasing on-chain market efficiency.

During the testnet period, Unichain garnered intense usage before its official launch by executing 95 million transactions alongside 14.7 million smart contracts.

Uniswap disclosed that it had integrated ninety-nine major crypto protocols. During its launch, Unichain integrated Circle, Coinbase, Lido, and Morpho, and many built-in applications will become active on the mainnet day.

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Users can now perform effortless cross-chain transfers between chains using ERC-7683 alongside the Superchain design.

Uniswap (UNI) Price Action and Market Response

The news generated a significant positive response from the market, leading the UNI price to jump almost 5% during the first day.

The price statistics from CoinMarketCap show that UNI achieved its peak level at $9.70 before having some market drawdown.

It is currently trading around $9.31. The prevalence of trading activity during the 24-hour period reached a sharp increase of 23%, showing intensified market interest and speculative activities surrounding Uniswap’s ecosystem growth.

The technical examination of UNI’s price shows positive results after its consolidation phase ended in an upward direction.

Signaling renewed bullish momentum. UNI/USD maintained a two-week price resistance between $8.50 and $9.50 until it initiated its recent breakout attempt within the 4-hour chart period.

Fair price action signals an upcoming uptrend continuation scenario for UNI, provided it successfully defends the support range between $9.20 and $9.30.

The price must maintain support levels above $8.80-$9.00 for a potential retesting of this support zone, although a breakdown could trigger a new support assessment.

The Average Directional Index (ADX) is 18.44. This demonstrates that UNI has not yet initiated an intense trending phase.

The indicator’s trajectory has also taken a southern trajectory, which means that the current momentum and intensity in the market could diminish further.

UNI Price Prediction: Bullish Continuation or Retracement?

The fundamental launch event behind Unichain will continue to push Uniswap (UNI) prices upward if the network attracts more users and sees higher activity levels.

A breakout above $9.70 and $10.00 will create conditions for UNI to reach $11.00 as its next target price.

Market experts say the next leg up for $UNI will begin. Analyst Lucky points out that the altcoin is currently at the bottom. This indicates that new highs are imminent.

Should prices fall to sustain their existing levels, a short-run price drop might start. UNI will touch $8.80 before recovering after breaking this support level.

Traders should track general cryptocurrency market trends and liquidity patterns because broader economic conditions often determine how Uniswap (UNI) will move in the future.