Uniswap’s UNI token extended its rebound over the past month, trading around $3.38 after a 3.3% gain in the last 24 hours. The move follows renewed attention on Uniswap activity shifting onto Robinhood Chain, with technical indicators suggesting improving momentum as investors weigh whether the token can break higher.
While UNI is up 16.4% on the week and 34.1% over the month, the market is closely focused on a nearby support area and the next resistance level that could determine whether the rally continues toward $3.58.
Key takeaways
- Price move: UNI was around $3.38, up 3.3% over 24 hours, with stronger weekly and monthly gains.
- Catalyst: Expanding Uniswap trading on Robinhood Chain, which has quickly emerged as a major deployment for decentralized exchange activity.
- Key technical level: Traders are watching $3.36 support and $3.44 as the first breakout threshold.
- Next upside target: A confirmed move above $3.44 would put $3.58 back in focus.
- Risk backdrop: Recent wallet security concerns tied to phishing and malicious token approvals, rather than protocol flaws.
What drove the move
The latest bid for UNI appears closely linked to ecosystem activity expanding beyond Ethereum. According to the article, Robinhood Chain, the blockchain introduced by Robinhood Markets, has drawn significant Uniswap usage, helping re-center liquidity and trading attention around the decentralized exchange.
Within roughly a week of launch, Robinhood Chain was described as the second-largest Uniswap deployment by 24-hour trading volume, behind only Ethereum and ahead of Base. The report also pointed to rapid early adoption signals, including:
- Daily trading volume of approximately $500 million on the network.
- Total value locked (TVL) of more than $78 million.
- Nearly 200,000 cumulative addresses during the first week.
A specific transaction highlighted in the piece involved Ethena depositing $50 million into a Morpho vault managed by Steakhouse Financial. The report said that activity contributed to a sharp increase in Robinhood Chain’s TVL over a 24-hour period.
Robinhood Chain launched with multiple Uniswap versions available from day one, including Uniswap v2, v3, v4 and UniswapX. The article also cited ongoing activity spanning wrapped Ether (WETH), memecoins, and tokenized stocks tied to companies including Nvidia, Apple, and Alphabet—an assortment that, according to the report, has helped broaden attention to the Uniswap ecosystem at a time when decentralized finance is competing for liquidity across different blockchain networks.
Market reaction and what traders are watching
Technically, the report characterizes the setup as constructive, even as UNI approaches a resistance area. It noted that UNI remains above its 10-day, 20-day, 50-day and 100-day exponential moving averages, which typically signals bullish alignment across short and medium time frames.
However, the token was still reported to be trading below its 200-day EMA, implying the longer-term trend has not fully turned. The piece also cited momentum and oscillator readings:
- 14-day RSI: 66.35, placed in the neutral zone and approaching—but not yet reaching—the classic overbought level of 70.
For near-term direction, the report emphasized the importance of $3.36 as a support level. It said holding above this area would keep the recent bullish structure intact. The first major resistance was identified at $3.44; a close above that level would shift focus to the next target near $3.58.
Conversely, losing the $3.36 support could open the door to a pullback toward $3.28, according to the article’s technical framework.
Security concerns add friction to the outlook
Alongside the bullish ecosystem narrative, the report pointed to recent headlines related to wallet security. It described an incident where losses of around $1 million were traced to a phishing attack exploiting Permit2 approvals. The article said the attackers did not compromise Uniswap’s smart contracts; instead, they reportedly induced a user to sign a malicious approval that enabled unauthorized token transfers.
The report also referenced another phishing incident involving losses of about $196,000, emphasizing risks associated with fraudulent approval requests rather than weaknesses in the decentralized exchange protocol itself.
In that context, the near-term projection for UNI was described as dependent on whether the token can defend $3.36 and build enough momentum to push above $3.44, with the ecosystem’s expansion via Robinhood Chain serving as the primary positive backdrop.
Bigger picture: DeFi liquidity is shifting, but UNI’s trend is mixed
For investors, the core tension in the current UNI story is straightforward: on-chain activity tied to Robinhood Chain is providing fresh demand signals, but the chart still reflects a market that has not fully reclaimed its longer-term trend (given UNI remains below the 200-day EMA, per the report). Meanwhile, security-related phishing risks continue to remind users that participation carries operational hazards even when protocols function as designed.
Attention now centers on whether UNI can turn the $3.36 support zone into a durable floor and whether buyers can convert resistance at $3.44 into a springboard toward $3.58. Watch for follow-through in token activity on Robinhood Chain and broader decentralized exchange flows, as well as any additional public alerts or security guidance that could influence user behavior in DeFi wallets.
