Uniswap (UNI) Eyes $9.6 Resistance as Bulls Test Sell Wall

The rebound has brought the token closer to a significant resistance level at $9.6, a zone where sellers have historically stepped in to cap rallies.

While momentum looks constructive, the outcome of this test may define whether the token extends its current bullish phase or pauses for another retracement.

In a recent chart shared on X, analyst CW highlighted the $9.6 mark as UNI’s next critical “sell wall.” This level, identified in red on the chart, represents a heavy concentration of sell orders and historical rejection points.

Previous rallies have struggled to break past similar barriers, often triggering sharp pullbacks once momentum faded.

Source: X

The chart also points to strong support levels, marked in green, at lower price zones where buyers previously absorbed selling pressure.

These demand areas helped establish the foundation for the coin’s latest rally, which has been reinforced by noticeable volume spikes accompanying the price surge. This combination suggests that market interest is alive, but whether it is strong enough to break through $9.6 remains to be seen.

At the time of writing, UNI is trading at $8.23, down 1.54% in the last 24 hours. The token holds a strong position among the top decentralized finance (DeFi) assets, with a robust trading volume and broad market participation reflecting continued investor interest.

Source: BraveNewCoin

Despite the small daily pullback, the memecoin’s resilience above $8 highlights the strength of its recent rebound. The market capitalization and liquidity profile further support its standing as one of the leading governance tokens in the DeFi sector, while its price trajectory continues to be closely tied to overall market risk appetite.

Traders will be watching not only for price direction but also whether trading activity expands as the coin approaches resistance. A surge in volume alongside a push through $9.6 would bolster confidence in the bullish scenario, while flat or declining volume could warn of a potential rejection.

Additionally, from a technical perspective, UNI’s recent rally is still facing mixed signals. The Chaikin Money Flow (CMF) is currently at -0.13, pointing to negative capital flows. This indicates that, despite the price rise, selling pressure is still outweighing fresh inflows, suggesting cautious market behavior.

For sentiment to decisively flip bullish, CMF will need to move back into positive territory, showing stronger accumulation.

Source: TradingView

The MACD (12, 26, close) also highlights this tentative momentum. With the blue MACD line at 0.003 sitting just below the signal line at 0.025, and the histogram in negative territory at -0.022, a bearish crossover has taken shape.

However, the narrow gap between the lines indicates that bearish momentum remains mild. Should the MACD curl back upward and cross above the signal, it could trigger an early bullish signal, reinforcing a potential breakout attempt.