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Uniswap Price Soars 6% SEC Ends Its Investigations - Can the Bulls Reclaim the $11.07 Mark?

Highlights:

  • Uniswap price has skyrocketed 6% to $8.21 mark, despite the wobbling crypto market. 
  • This comes as the SEC ends investigations into Uniswap Labs, which marks a major win for DeFi.
  • With Uniswap showing renewed strength, can the bulls break toward the $11.07 mark?

The Uniswap price has gained 6% to the $8.21 mark, as the Securities and Exchange Commission (SEC) has terminated its investigation without filing any formal charges. The authorities initiated their investigation of Uniswap Labs three years ago after allegations that the platform ran an unregistered brokerage service and released an unregistered security.

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The SEC sent a Wells Notice to Uniswap Labs through its April 2024 statement about taking legal action against the allegations. However, Uniswap Labs received closure from investigators who took no action against the platform. This declaration establishes a significant achievement for both Uniswap and the crypto marketplace, as the SEC seems to be shifting its strategy toward cryptocurrency oversight. 

UNI Statistical Data

Based on CoinmarketCap data:

  • UNI price now – $8.21
  • Trading volume (24h) – $367.21 million
  • Market cap – $4.93 billion
  • Total supply – 1B
  • Circulating supply –600.51M
  • UNI ranking – #27

The Uniswap price is currently at $8.32, reflecting a modest gain of 6% for the day as the market attempts to recover from the crash. The RSI at 34.30 indicates that UNI is in oversold territory, which could hint at a potential bounce if buying pressure intensifies.

Key resistance levels can be identified at $9.88 and $11.07, aligning with the 50-day and 200-day MAs. If UNI manages to breach these levels, it could pave the way for a more sustainable recovery. Conversely, failure to maintain its current position may result in the price retesting critical support levels at the $7.53 zone.

Should market momentum improve in favor of UNI, a rally above the $11.07 mark is likely, with the possibility of extending toward $12.77 if sentiment shifts. On the flip side, if bearish pressure persists and the RSI fails to recover above the 40 mark, UNI might find itself under duress, sliding toward the $7.53 region or lower.

Traders should carefully observe volume trends and broader market cues to navigate this highly volatile phase. The chart dynamics emphasize caution, but an oversold RSI could present a strategic entry opportunity for risk-tolerant investors.

Can Uniswap Price Build Enough Momentum to Reclaim the $11.07 Mark?

UNI has been showing signs of renewed strength, and if bullish momentum continues to build, the token could attempt to retest the $11.07 mark. A steady rise in trading volume and consistent higher lows could indicate growing investor confidence, potentially paving the way for a breakout.

Uniswap price
UNI/USD 1-day chart: DexTools.io

Overcoming key resistance levels will be crucial, as past price action suggests that a successful push above these barriers could trigger a stronger rally. However, sustaining this momentum will depend on broader market sentiment and continued demand for DeFi assets.

A closer look at the Moving Average Convergence Divergence (MACD) shows that it has slightly flipped below the orange signal line. This indicates intense selling pressure, as the red histograms suggest a waning bullish sentiment.

Meanwhile, the SEC’s end of investigations into the platform and continued innovation, including governance enhancements across multiple blockchain networks, strengthen its long-term outlook. Institutional interest in DeFi and the growing demand for decentralized exchanges further add to UNI’s potential upside. With these developments shaping the future of DeFi, UNI’s fundamentals could drive it beyond the $11.07 mark.

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