Uniswap Price Targets $9 as Dormant Wallets Awaken and Trading Volume Climbs

TLDR:

  • Dormant token activity on Uniswap just hit an all-time high of 73 billion in age consumed.
  • UNI price is testing $7.80, a level that previously acted as a strong resistance zone.
  • Average wallet age dropped 7.2%, indicating long-held tokens are re-entering circulation.
  • Daily trading volume exceeds $426M, reinforcing UNI’s growing short-term bullish momentum.

Uniswap’s price action has gained momentum amid renewed network movement and investor interest. 

After showing a steady climb since late June, UNI is now nearing a key resistance area that could shape its short-term direction. Dormant wallet activity has reached record levels, signaling that long-held tokens are returning to the market. 

Historical patterns suggest such moves often coincide with rising prices and higher trading volumes. As momentum builds, traders are closely watching the $7.80 level, which could determine whether UNI moves smoothly toward $9.

Uniswap Dormant Token Shift Signals Rising Activity

According to blockchain data analytics firm Santiment, Uniswap saw its highest-ever spike in “age consumed,” a metric tracking tokens moved from inactive wallets. 

Nearly 73 billion in token age was consumed, leading to a sharp 7.2% drop in average wallet age. This shift often points to tokens returning to circulation, which can precede higher trading volumes and price movement.

Santiment noted that such dormant token spikes frequently align with network activity bursts, often setting the stage for price appreciation. The change suggests that long-term holders may be repositioning, potentially anticipating favorable market conditions.

Chart analyst CW highlighted that Uniswap’s current price action is pressing against a critical resistance zone near $7.80. The 4-hour TradingView chart shows repeated rejections at this level, which has acted as a selling wall in past attempts. 

UNI’s current bullish momentum indicates a possible breakout if supported by strong volume.

CW stated that flipping this level into support could unlock the next target range between $9.00 and $9.50. However, failure to clear $7.80 may lead to a retreat toward familiar support zones around $7.20 and $6.80.

UNI Volume Profile Shows Bullish Interest

Supporting the potential breakout, volume data reveals a notable increase during recent bullish candles. This uptick suggests rising buyer interest as UNI approaches its resistance threshold. If this buying strength continues, it may help validate a sustained move upward.

Uniswap has recorded a 2.57% increase in the last 24 hours and nearly 10% over the past week, per CoinGecko data. With daily trading volume surpassing $426 million, short-term momentum appears to favor the bulls.

UNI price on CoinGecko

For now, Uniswap’s near-term direction rests on whether it can decisively break past $7.80. 

Dormant token activation, increasing volume, and bullish momentum are aligning, but confirmation is needed. A successful breakout could set a direct path toward the psychological $9 barrier, while rejection may invite retests of lower support levels.

 

The post Uniswap Price Targets $9 as Dormant Wallets Awaken and Trading Volume Climbs appeared first on Blockonomi.

Source: https://blockonomi.com/uniswap-price-targets-9-as-dormant-wallets-awaken-and-trading-volume-climbs/