Uniswap (UNI) Soars 100% — Could $10 Be Next?

Uniswap (UNI) has gained more than 101% over the past three weeks, marking a significant turnaround after an extended period of weakness. The rally has strengthened UNI's technical picture, with both its shorter-term and broader market structures now pointing in a more positive direction.

Despite the scale of the recovery, UNI remains far below its historical peak. In May, the token was trading more than 94% below its all-time high, meaning current prices continue to represent a substantial discount compared with UNI's historical highs. However, after such a rapid rally, the possibility of a short-term correction remains an important consideration.

Uniswap (UNI) technical analysis

UNIUSD - 1 Day Time Frame

UNI's 101% rally has brought its external market structure in line with the already bullish internal structure, creating a more constructive overall technical setup. For investors with a broader time horizon, the area around $6.00 could still represent a significant discount compared with UNI's historical price levels.

However, given the highly impulsive nature of the recent rally, entering an entire position at current prices could carry additional short-term risk. One potential approach could therefore involve dividing an entry into two parts. The first half could be considered around the current price near $6.30, while the second could be reserved for a potential correction toward $5.50–$5.00.

Risk management could also vary depending on the selected strategy and individual risk tolerance. A wider Stop Loss could be considered around $3.20, while a tighter approach could use the $4.20 area. A move below these levels could weaken the current bullish setup and increase the risk of a deeper correction.

Uniswap (UNI) price target

If bullish momentum continues, the main potential Take Profit levels are represented by Buy-Side Liquidity areas around $8.20, $10.30, and $12.30. These levels could provide potential areas for gradually taking profit as the price moves higher. For investors with a longer-term outlook, however, they may not necessarily represent final exit points. Given UNI's substantial discount from its historical highs, part of a position could potentially remain open for higher levels if the broader bullish structure continues to develop.

For now, UNI presents a constructive technical picture following its 101% rally. A potential correction toward $5.50–$5.00 could offer a different entry opportunity than buying after the recent impulsive move, while the $4.20 and $3.20 areas provide potential reference points for managing downside risk.

If the bullish structure remains intact, attention could remain on the Buy-Side Liquidity levels at $8.20, $10.30, and $12.30, with further upside potentially coming into focus if UNI maintains its broader recovery.

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