The price of Uniswap has cooled to $9.53 after briefly nearing $11 on Sept. 23, leaving the token up 5.1% over a 24-hour window and more than 50% higher across the week.
Data from CoinGecko at the time of writing indicated that UNI had climbed 51.5% in seven days and 121.6% over the preceding 30 days, even after pulling back from an intraday high close to $10.90.
Before this latest push, the cryptocurrency had already advanced from under $6 on Sept. 17 to approximately $9.
UNI generated around $2.43 billion in trading volume over the prior 24 hours, and its weekly gains comfortably outpaced those of Bitcoin over the same timeframe.
The primary catalyst for this recent rally stems from CME Group’s announcement regarding regulated Uniswap futures.
On Sept. 22, the derivatives exchange revealed that UNI futures are slated to launch on Oct. 19, pending regulatory approval.
Under the proposed framework, standard Uniswap futures will cover 10,000 UNI each, while Micro UNI futures will account for 1,000 UNI.
These contracts are designed to provide institutional and professional traders with regulated access to UNI futures for hedging active positions or gaining market exposure.
Following the disclosure, UNI advanced and kept climbing through Sept. 23 before selling pressure intensified around the $11 threshold.
Prices peaked between $10.80 and $10.90 before sliding back below $10.
Derivatives activity expanded alongside the spot market.
UNI futures open interest approached $971 million as the token tested the $11 region, pointing to an accumulation of leveraged positions during the advance.
Elevated leverage can amplify price swings in either direction if market participants begin liquidating or closing out trades.
Another fundamental element supporting the recent narrative is Uniswap’s protocol fee system.
Operational since December 2025, this mechanism permanently burns UNI using collected protocol fees instead of distributing revenue directly to token holders, according to official Uniswap documentation.
Furthermore, governance participants are evaluating a proposal to introduce protocol fees to Arc, a Layer 1 network created by Circle.
While Uniswap v2, v3, v4, and UniswapX were all deployed on Arc at its debut, this active proposal would trigger protocol fees and UNI token burns based on network activity.
Voting on the Snapshot proposal spans from Sept. 18 to Sept. 23, which could pave the way for an on-chain vote.
Should it win approval and take effect, transaction activity routed through Uniswap on Arc would feed into the protocol’s supply-reduction burn mechanism.
Protocol engagement has remained robust amid the price volatility. CoinGecko metrics showed Uniswap producing roughly $4.07 million in fees over 24 hours alongside about $442,000 in protocol revenue.
UNI price analysis
Although UNI faced rejection between $10.80 and $10.90—bringing the price down to roughly $9.54 on the 4-hour chart—the foundational structure supporting the breakout remains intact. See below.
The Parabolic SAR is positioned at $9.39, just beneath the current price. Maintaining a level above this indicator preserves the short-term 4-hour trend, whereas a decisive drop below $9.39 would signal that the correction from $11 is gathering momentum.
The Aroon indicator presents a similar outlook, with Aroon Up at 88% and Aroon Down at 12%. This reflects that recent highs continue to steer the 4-hour trend despite the appearance of red candles.
A declining Aroon Up paired with a rising Aroon Down would undermine that bullish reading, especially if accompanied by a breach of the $9.39 support.
Should $9.39 fail to hold, the $9 area stands as the next visible support level. UNI spent multiple sessions consolidating between roughly $8.60 and $9.20 prior to its Sept. 23 breakout, rendering that former consolidation zone important if bears drive prices lower.
On the daily timeframe, UNI maintains a comfortable position above the Ichimoku cloud. The Tenkan sen is located near $8.47, the Kijun sen hovers around $7.65, and the upper boundary of the projected cloud rests close to $8.06.
UNI/USDT 1-day price chart. Source: TradingView.
Trading above each of these thresholds keeps the broader trend pointed upward despite the recent rejection near $11.
Meanwhile, the Chaikin Money Flow metric holds positive at 0.05. While this reading has retreated from peaks near 0.30 registered in late August, it has not dropped below zero, implying that buying pressure has not been completely overwhelmed by selling pressure.
A successful push back above $10 would place the $10.80 to $11 resistance zone back into focus.
A daily close above $11 would clear the latest barrier and could clear a path toward $12, establishing that level as the next major psychological milestone.
Conversely, failing to defend the 4-hour Parabolic SAR mark at $9.39 would expose the $9 level, followed by the daily Tenkan sen near $8.47.
A breakdown below $8.47 would undermine the prevailing daily structure and direct attention toward the $8.00 to $8.06 zone near the Ichimoku cloud.
Frequently Asked Questions
What triggered Uniswap’s recent price rally?
The primary catalyst was CME Group’s announcement that it plans to launch regulated UNI futures on October 19.
How do Uniswap protocol fees affect the token price?
Collected protocol fees are used to permanently burn UNI tokens rather than distributing revenue to holders, reducing overall supply.
What are the immediate support levels for UNI following its pullback?
Key technical supports include the 4-hour Parabolic SAR at $9.39, followed by the $9 psychological level and the daily Tenkan sen near $8.47.
What price target is expected if UNI breaks past $11?
A daily close above $11 would clear the recent rejection high and could open the door for a move toward the $12 psychological target.
