The post Uniswap Price Stands Tough on Legal Clarity, Targets $12.85 Next? appeared first on Coinpedia Fintech News
Uniswap price today is standing tough amid the market-wide downturn. It is currently up 0.6% since yesterday, trading at $11.24. And adding to a 14.24% surge over the past week. UNI’s market valuation now stands at $7.06 billion, which is assisted by the $1.05 billion intraday trading volume.
UNI’s momentum is majorly fueled by governance developments, technical strength, and healthy network usage. Keen on the specifics? Read this detailed analysis for the reasons that led to UNI’s strong stance and potential price targets.
Why is UNI’s Price Up Today?
Legal Clarity for Fee Switch
On August 11, the Uniswap Foundation proposed adopting a Wyoming Decentralized Unincorporated Nonprofit Association (DUNA), called “DUNI.” This structure would legally recognize UNI governance decisions and pave the way for activating the long-delayed fee switch.
It could redirect about $90 million per month in protocol fees to the DAO treasury or token holders. The announcement alone pushed UNI up 6%, with analysts pointing to reduced regulatory risk. The DAO vote is expected by August 18.
Ethereum Network Effects
Uniswap swaps accounted for 15% of Ethereum’s gas usage as of August 11, as ETH transaction volumes neared record highs. This boosted UNI’s 24-hour revenue to $3.27 million. However, ETH’s 2.3% decline on August 12 slightly capped UNI’s upside.
Uniswap Price Analysis
On the 4-hour chart, UNI price is trading sideways near $11.20 after testing resistance at $11.60. Support has formed at $10.95, with deeper buying interest around $10.60. The RSI at 64.41 suggests more room before overbought conditions, supporting the case for another push higher.
Key resistance levels are $11.60 and $12.14, with a breakout opening the door to $12.85. If bulls fail to hold $10.95, the next major support sits at $9.40. Short-term momentum favors buyers, but ETH’s market direction will remain a critical factor in sustaining gains.
FAQs
The governance proposal (DUNI) promises legal clarity for activating Uniswap’s fee switch, boosting investor sentiment.
Immediate resistance is at $11.60, followed by $12.85 if bullish momentum continues.
Losing the $10.95 support or weakness in ETH could pressure UNI lower.