UNI Jumps 10% as Bitcoin Enters Consolidation Phase

Uniswap’s UNI Gains 10% Amid Altcoin Rally as Bitcoin Stabilizes

Uniswap’s UNI token has climbed 10% this week, benefiting from a broader rally in the altcoin market.

This upward momentum comes as Bitcoin consolidates near $108,000, following last week’s record peak of $111,970.

UNI touched a high of $7.63 early Thursday before settling around $7.04. It is currently testing the $7.00 level as a key support, which had previously acted as resistance during the week.

If UNI can maintain this support, it may build the momentum needed to target $10, a resistance level that saw rejection earlier this year in February.

Meanwhile, the Altcoin Season Index from CoinMarketCap has climbed from 12 to 25 over the past month, signaling growing interest in altcoins, although the market still leans heavily on Bitcoin. The index typically indicates a strong altcoin season once it rises above 75.