Uniswap price approaches resistance level of $4.20

Uniswap is moving steadily towards a significant resistance level. Analyst Daan Crypto Trades notes that the UNI price is approaching the top of a consolidation zone and states that the coin is performing remarkably strongly, regardless of broader market conditions. His first price target is at $4.20.

Uniswap is available at OKX and Bybit.

UNI holds firm despite market volatility

Daan Crypto Trades shares a daily chart showing Uniswap trading around $3.68 and slowly climbing towards the resistance at $4,206. The analyst is positive about how the price has developed over the past period and points to a pattern he finds telling: UNI is moving quietly upward, while the rest of the market is being shaken up by changing news and violent price fluctuations.

According to Daan Crypto Trades’ team, coins that are not distracted by external noise are precisely the most interesting to watch. Those coins typically perform best when the market truly turns. UNI appears to be such a coin at the moment, with a steadily rising price despite all the turbulence in the market.

First target at $4.20, then possibly higher

The first price target mentioned by Daan Crypto Trades is $4.20, which corresponds to the top of the current range on the chart. The price is currently still slightly below that level, but the upward pressure seems to persist. The analyst indicates he is taking it step by step and tackling one target at a time.

If Uniswap manages to break through the resistance at $4.20, it opens up room for further upside, according to the analyst. He leaves open exactly how high it could go. The fact that the DeFi protocol has been generating millions in monthly revenue for years plays a role. The shift in this bull cycle towards projects with real revenue gives coins like UNI a fundamental basis that speculative tokens lack.