Uniswap Tests Key Weekly Resistance as Bulls Eye Breakout or Pullback

Uniswap’s governance token, the aset, is currently navigating a critical juncture as it tests a significant resistance zone near $11 to $12 on the weekly timeframe. Technical analysis from multiple sources indicates the token faces a pivotal decision point that could determine its short-to-medium term trajectory.

Traders and investors are closely watching whether the bulls can secure a breakout above this supply-heavy area or if sellers will force a pullback to lower demand levels.

Weekly Chart Signals Heightened Risk near Resistance Zone

According to Yusuf | Noon (@traderyusufnoon) on X, the UNI/USDT weekly chart reveals price approaching a historically significant supply zone marked between $11 and $12. This area has repeatedly acted as strong resistance since 2022, rejecting rallies and prompting corrections. Prior to this resistance test, token staged an impressive recovery from demand zones situated around $5.50 to $6.50, reinforcing these as critical support levels.

Source: X

The analyst advises caution when entering spot positions at the current resistance due to the elevated risk of rejection. Instead, the recommendation is to await a confirmed breakout above $12 coupled with a retest to validate strength before adding new longs.

Alternatively, traders might consider entry opportunities near lower demand zones, notably around $6.50 and deeper near $4.00, should a sustained pullback materialize. It’s worth noting that an ultimate accumulation band exists between roughly $1.80 and $3.00, but revisiting such levels would likely require a severe market downturn.

This setup reflects a broader altcoin scenario where many assets are encountering strong resistance after extended rallies, making the coming price action critical for market direction.

Intraday Price Action Reveals Strong Selling Pressure on Resistance Test

BraveNewCoin’s 24-hour intraday chart snapshot shows UNI priced around $10.91 at the time of writing, marking a 9.39% loss over the past day. The market cap is approximately $6.55 billion, with sturdy trading volume near $953 million. The price declined steadily from just above $12 toward $10.90 on August 14–15, exhibiting pronounced selling pressure after approaching the highlighted resistance zone.

Source: BraveNewCoin

Importantly, trading volume during this decline has been consistent rather than spiking dramatically, signaling that this is structured profit-taking rather than panic selling. The inability to secure levels above $12 has triggered short-term sellers to exit, sharpening the pullback. However, tapering volume near current prices may indicate easing selling pressure and potential exhaustion among sellers. Should broader market sentiment turn supportive, this could set the stage for a cautious bounce attempt off these levels.

Daily Technical Indicators Point to Ongoing Bullish Momentum Despite Rejections

The daily chart from TradingView offers further nuance: UNI’s price currently stands near $11.12, down from a recent high around $12.30. Momentum indicators, including the MACD line at 0.547 staying above its 0.484 signal line with a positive histogram at 0.062, reveal that bullish momentum has not been fully negated. Buyers remain in control to some degree despite the retracement.

Source: TradingView

The Chaikin Money Flow reading at 0.07 supports modest capital inflows, indicating that net buying interest still exists. Price action since the March lows near $4.55 has displayed classic uptrend characteristics with higher highs and higher lows largely intact.

That said, the repeated pushbacks near the $12 resistance imply urgency for a decisive breakout. Successfully clearing and holding above this barrier could unlock upside toward the next resistance targets around $14 to $15. Conversely, if the asset fails to surpass $12, a retest of support near $9.80 to $10.00 is probable, zones that coincide with prior consolidation and buying areas.