Uniswap(UNI) Technical Analysis: Will a rebound scenario unfold after defending the support level

Current Situation Summary: Successful Defense of $7.06 as a Critical Threshold

Uniswap successfully held the support at the $7.06 50-day EMA during the recent correction phase. The current price is around $5.81, and it is noteworthy that despite short-term volatility, the key support level has not been lost. This suggests that it is more than a simple rebound; it appears to be a phase of recharging energy before resuming the upward trend.

On-Chain and Futures Indicators: ‘Buy Signals’ from Whales and Traders Align

CryptoQuant data shows large buy orders detected in both spot and futures markets. The fact that these are not just low-level orders but actual substantial accumulation movements adds credibility to a medium-term bullish scenario.

The futures market signals are also clear:

• Long/Short Ratio 1.12: Reaching the highest level in the past month according to CoinGlass, indicating bullish bets outweighing bearish bets
• OI Weighted Funding Rate 0.0087%: Entering positive territory, suggesting long positions remain dominant
• Implication: The current market is not in a one-sided bearish trend; there is a tilt toward potential upward resumption after correction

Technical Trend: ‘Resistance-Support Repetition’ Around the 50-Day Line

Looking at price action:

• Last week, retested the 10.07(78.6% Fibonacci retracement, followed by about 25% correction
• Support was confirmed at $7.06 50-day EMA, successfully defended until the weekend
• Currently, the trend is being consolidated above this support level

If a Rebound Scenario Unfolds

As long as $7.06 is maintained, the first target is the daily resistance at $8.63. This level has been tested multiple times before the recent correction, and the strength of the rebound will depend on how much supply is absorbed here.

Momentum indicators are also signaling positive:

• Daily RSI 55: Energy for upward movement is accumulating above the neutral 50 level
• MACD: Maintains signals since last week’s golden cross, indicating ongoing short-term bullish momentum

Caution: ‘Downside Scenario’ if $7.06 Breaks

If the daily close falls below $7.06, the market will turn its focus to the next support at $6.04. This could be interpreted as not just a correction but an ‘additional downward wave,’ requiring strict position management.

Conclusion: Current Level is ‘Neutral Rather Than Strong, with Opportunities’

UNI tends to focus more on defending support rather than strong rebounds. Technical resistance, futures long ratio, and on-chain buy signals all point upward, but a confirmed bullish reversal requires breaking through $8.63. Long-term opportunities remain, but short-term traders should consider the ‘defense’ at $7.06’ as a key risk management point.