- Uniswap price jumped to above $4 on Wednesday as Bitcoin retested $68,000.
- The UNI token could eye $5 amid an oversold bounce across crypto.
- If bulls fail to rally, key support lies around $3.48 and $3.00.
Uniswap (UNI) price has surged nearly 20% in recent trading, climbing to intraday highs above $4.00 as top altcoins retest critical resistance levels.
This rebound aligns with Bitcoin’s spike in the past 24 hours, which sees BTC trade above $68,000 and altcoins, including Ethereum, XRP, and BNB, target oversold bounces above $2,000, $1.50, and $620, respectively.
As with these top altcoins, on-chain data shows Uniswap price ticking up from oversold conditions. Morpho was among the coins to see sharp gains on the day.
Uniswap price pumps to above $4
The sharp decline on February 5, 2026, saw UNI price dump to $3.00, and a subsequent attempt to break higher failed as prices hovered in a range capped at around $3.60.
Overall, weakness in digital assets amid macro headwinds contributed to this outlook.
However, despite risk assets remaining largely bearish, UNI’s uptick to $4.00 amid a 62% spike in daily volume reflects fresh optimism.
Uniswap’s gains in the past 24 hours build on the positive movement that followed BlackRock’s recent strategic purchase of UNI.
The global asset management giant plans to use the tokens to facilitate trading of its BUIDL tokenized Treasury fund via Uniswap.
Data on the market platform Coinglass highlights the improvement in on-chain metrics for UNI.
Open interest is picking up, and funding rates are positive. This suggests recent weakness has provided entry opportunities for buyers.
Bitcoin’s push above $68,000 and Ethereum’s breach of $2,000 may catalyze further gains for small-cap tokens.
What next for UNI price?
Although Uniswap’s price is up by double digits on the day, it remains in the red over the past week, month, and year-to-date.
Technical indicators also suggest that UNI at $4.00 is below key moving averages, including the 50-day, 100-day, and 200-day SMAs.
Daily RSI at 56, however, signals an extended bounce from oversold territory, and significantly, has room for another leg up before bulls hit overbought extremes.
Meanwhile, the MACD histogram hints at fresh bullish momentum with $3.20 having formed a potential bottom.
Bollinger Bands position UNI above the upper band, which is currently at $3.81.
If prices break above the 50-day SMA, bulls will have eyes on the 100 SMA ($5.09).
This hurdle aligns with a horizontal resistance line that also acted as support in November and December 2025.
However, near-term bearish targets are alive. The lower Bollinger band at $3.48 offers the first major demand reload zone. Below this, bulls could rely on support at $3.00.
