Uniswap’s strong breakout rally has started to face resistance after surging past key levels, but buyers are still clinging to short-term control. Let’s explore the technicals behind the latest Uniswap price movement and evaluate whether momentum can sustain itself heading into May 30.
Uniswap Price Today Trades Near Key Resistance After Sharp Climb
The Uniswap price today is trading around $7.12 after briefly touching a high of $7.64 earlier on May 29. The move came on the back of a breakout above the falling wedge structure that had contained price since early April. However, bulls are now struggling to keep momentum above the 0.786 Fibonacci retracement level from the April–May decline, which sits near $7.15.
This area now acts as immediate resistance. A clean break and daily candle close above it would open up the path toward the $7.56 high, followed by psychological resistance near $8.00. On the downside, support is seen near $6.83 (0.618 Fib level) and $6.60 (prior breakout retest zone).
What’s Happening With Uniswap’s Price; Rising Wedge or Healthy Pullback?
From a structural standpoint, UNI has shifted its bias to bullish, but lower timeframes suggest potential exhaustion in the short run. The 30-minute and 4-hour charts show price stalling just after completing a strong vertical push. Candlesticks now indicate upper wick rejections around $7.60, hinting at a possible rising wedge formation or early stages of consolidation.
Still, Uniswap price action remains above the 20/50/100/200 EMAs on the 4-hour chart. The 20 EMA sits at $6.72 and currently acts as the first line of dynamic support. This aligns with the lower Bollinger Band boundary near $6.68, indicating that the zone between $6.68 and $6.83 is key for bulls to defend.
Momentum Indicators Point to Cooling But Still Favor Bulls
On the 30-minute chart, RSI recently touched overbought territory above 70 before declining to the 52–60 range, suggesting short-term cooling without a full bearish reversal. Meanwhile, the MACD remains in positive territory but shows signs of a bearish crossover as histogram bars flatten, indicating that the upward Uniswap price volatility may begin to contract.
Stochastic RSI confirms this cooling narrative. It has dropped sharply from the overbought zone and now rests around the midline, showing reduced momentum and increasing potential for a sideways move.
Ichimoku Cloud Remains Bullish With Early Signs of Flattening
The Ichimoku Cloud on the 30-minute chart shows that price remains above the Kumo cloud, with the conversion line (Tenkan-sen) and baseline (Kijun-sen) still positively sloped. However, both lines are flattening slightly, signaling a potential pause in trend strength.
The lagging span (Chikou) remains above price, supporting the broader bullish view, but if UNI fails to reclaim $7.25 soon, the cloud could thicken and lead to ranging behavior.
Why Is Uniswap Price Going Up Today?
The answer to why Uniswap price going up today lies in a textbook bullish breakout pattern. After spending weeks in a tightening wedge with decreasing volume, UNI saw a strong surge backed by a high-volume candle that closed above the wedge resistance. This pattern often precedes strong trend reversals, and the volume confirmation adds further conviction.
In addition, UNI’s daily structure shows that price has recovered more than 61.8% of the April–May drop, with a rounded bottom forming since May 13. This gives the current rally a stronger foundation compared to short-lived pumps earlier in the month.
Short-Term Forecast for UNI: Bullish Above $6.83 But Watch $7.64 Closely
For May 30, traders should watch the $7.25–$7.64 zone closely. A clean breakout and hold above $7.64 opens the path to $8.00 and potentially $8.65 (next resistance zone from January). However, failure to breach this zone could trigger a minor pullback toward $6.83 or even $6.60, especially if volume continues to decline.
The forecast bias remains bullish as long as UNI holds above $6.83 on a closing basis. A breakdown below that would likely shift sentiment back to neutral.
UNI Price Forecast Table for May 30
| Indicator/Level | Value | Signal |
| Uniswap price today | $7.12 | Near key resistance |
| Immediate Resistance | $7.25–$7.64 | Breakout level |
| Key Support | $6.83 | Fib/EMA/Bollinger cluster |
| RSI (30-min) | 60.84 | Cooling from overbought |
| MACD (30-min) | Bearish cross | Loss of upside momentum |
| Ichimoku Cloud | Bullish | Price above cloud |
| Bollinger Bands (4h) | Expanding | Volatility increasing |
| Momentum Bias | Bullish | Holding above breakout |
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
