Uniswap (UNI) has broken above a long-term descending trendline, marking a potential shift in market structure. According to crypto analyst Giannis Andreaou, the breakout is the first meaningful improvement in UNI’s structure, though the broader macro remains incomplete. Trader focus now centers on whether UNI can hold above the trendline and retest the $6–$7 region as support. Derivatives data shows 24-hour trading volume rose 27.92% to $1.41 billion, with open interest up 2.14% to $751.36 million. On the fundamental side, Uniswap network activity is expanding, with September trading volumes reaching $21.8 billion—over 50% of the $40.6 billion traded since the protocol’s inception.
Uniswap (UNI) has recorded a major technical shift after breaking above the long-term descending trendline that constrained its price for years. Crypto analyst Giannis Andreaou highlighted the breakout as the first meaningful improvement in UNI’s market structure, but cautioned that the broader macro structure remains incomplete following previous downside pressure.
The breakout marks an important change because UNI had remained below a persistent descending trendline across multiple market phases. A sustained move above this structure could indicate that sellers are losing control and allow buyers to establish a stronger base.
Andreaou pointed to the $6–$7 region as the most important area to watch following the breakout. If UNI returns toward this zone and successfully retests the former resistance as support, the area could become a significant technical foundation.
The analyst warned that UNI previously formed a lower low beneath its 2022 bottom, leaving the broader market structure vulnerable to further volatility. Andreaou identifies $12 as the first major upside target, followed by the $19–$20 range. The $30 level is a long-term target, but UNI must overcome obstacles first.
Coinglass data indicates an increase in participation in UNI’s derivatives market. Trading volume rose 27.92% to $1.41 billion over 24 hours, while open interest increased 2.14% to $751.36 million. This rise in derivative activity occurs as UNI nears significant technical areas after its breakout.
Token Terminal pointed out that Paxos’ stablecoin USDG is seeing high trading activity on decentralized exchanges. Uniswap’s September volumes reached $21.8 billion, over 50% of the $40.6 billion traded since inception. Uniswap V3 and V4 accounted for 98% of September volume.
Uniswap also emphasized trading activity for Arc, with over $300 million swapped since inception, roughly 84% of total volume through decentralized exchanges on the blockchain network. High trading activity through integrations adds to the Uniswap story.
According to Andreaou, volatility may occur during the US trading session, potentially pushing UNI toward the $6–$7 area before a clearer setup forms. Retention of that area would improve chances for further rise to $12, then $19–$20, and eventually toward $30.
