Uniswap tests resistance as v4 TVL crosses volume tops $110B

Uniswap is trading at $11.02, up 4% in the past 24 hours and 60% over the past month, as it continues to push against resistance levels. 

During the past seven days, Uniswap’s (UNI) price has fluctuated between $9.78 and $11.30, with recent gains driven by increased trading activity and momentum across decentralized finance. Open interest has increased by 4.76% to $754.7 million, while daily trading volume has increased by 25% to $427.5 million.

This rise in capital and active positions suggests that investors are again confident in the current upward trend. Despite some profit-taking risk, the market structure remains bullish above the $10 level.

Uniswap v4 on-chain metrics surge

The ongoing expansion of Uniswap v4 supports the move. The cumulative trading volume has surpassed $110 billion, and the total value locked has crossed $1.03 billion. The 30-day decentralized exchange volume is currently $26 billion, based on data from DeFiLlama.

Most activity is concentrated on Unichain, Uniswap’s native layer 2, which accounts for roughly 75% of all trades. Ethereum’s share has fallen below 20%.

More than 2,500 liquidity pools have deployed custom Hooks. Protocols such as Bunni and EulerSwap have each surpassed $1 billion in volume. Unichain’s low fees and fast block times have helped make it the third-largest layer 2 by usage. 

Uniswap v4 launched on January 31 across 10 networks, including Ethereum (ETH), Arbitrum (ARB), Base, and BNB Chain (BNB). July upgrades included expanded smart wallet support, cross-chain integrations with Hyperbridge and LayerZero (ZRO), and over 640 million total swaps processed.

Uniswap technical analysis

UNI is trading at $11.03, below its upper Bollinger Band at $11.63, and just below its most recent peak of $11.30. At 71.30, the relative strength index indicates that the market is overbought. The 20-day SMA of $9.73, which currently serves as support, is still well above the price.

UNI’s pattern points to a staircase-like upward move with slight consolidations, which is common with strong uptrends. However, short-term profit-taking could result from an RSI above 70 for a sustained period without consolidation.

The uptrend might continue as long as UNI remains above important moving averages and volume sustains the bullish momentum. The next resistance level is close to $12 if UNI breaks above $11.30. If the market continues to rise above this level, it may eventually reach $13–$14. 

On the downside, a pullback toward $9.70–$10 could be triggered by a rejection at resistance when the RSI cools off, but if it holds, the structure would remain bullish.