Uniswap (UNI) is showing renewed technical strength after reclaiming a key support level, with buyers defending higher price zones and momentum indicators favoring continued upside. At the same time, Uniswap V4 has emerged as the leading decentralized exchange by weekly trading volume, underscoring the protocol's growing dominance in the DeFi sector.

At the time of writing, UNI trades at $3.82 with a 24-hour volume of $155.64 million and a market capitalization of $2.38 billion, reflecting a 1.36% gain over the past 24 hours, according to CoinMarketCap.

UNI Reclaims Key Support, Bulls Target $4.50

Crypto analyst Alpha Crypto Signal noted that Uniswap (UNI) has flipped a key horizontal resistance level into support on the four-hour chart, strengthening its short-term bullish outlook. The successful breakout reflects an improved market structure, with active buyer defense of the reclaimed zone. Sustained holding above this level signals growing confidence and reinforces the token's technical momentum.

Source: Alpha Crypto Signal's X Post

This pattern is further supported by UNI's position above its 9-period Exponential Moving Average (EMA) and 50-period Simple Moving Average (SMA), indicating persistent buying pressure. Maintaining support at current levels could propel the token toward the $4.50 target. UNI, the governance token of the Uniswap protocol, has historically responded to periods of elevated DEX trading activity, as token holders vote on key protocol parameters and fee mechanisms.

Uniswap V4 Leads Weekly DEX Volume Rankings

Data from MSB Intel shows that Uniswap V4 has rapidly become the top-ranked decentralized exchange by weekly trading volume, recording $6.04 billion. This milestone highlights increasing adoption of the protocol's latest version amid broader growth in decentralized finance. Uniswap V4, which launched in 2025, introduced customizable pool architectures through its hooks system and gas-optimized routing, factors that have contributed to its fast climb past both competing protocols and its own prior iteration.

Source: MSB Intel's X Post

Uniswap V3 follows in second place with $5.85 billion in weekly volume, while PumpSwap ranks third at $3.80 billion. These rankings illustrate Uniswap's continued dominance across DEX platforms, with V4 now leading the market as user adoption accelerates. The combined weekly volume across Uniswap V3 and V4 of nearly $12 billion underscores how a single protocol family continues to capture a substantial share of decentralized trading activity, even as new entrants compete for liquidity.

Key Factors to Watch

If UNI maintains its reclaimed support, buyers may push toward the $4.50 resistance level, extending the current uptrend. Sustained positioning above key moving averages, combined with DEX volume growth, would reinforce bullish momentum. Further gains in Uniswap V4 market share would provide additional support.

However, broader crypto market conditions remain cautious, and the potential for a false breakout exists if current dynamics shift.