Uniswap [UNI] announced that it has deployed v2, v3, v4, and UniswapX on the Robinhood Chain. This is a Layer 2 built by Robinhood Crypto, with Uniswap serving as the automated market maker [AMM].
The launch is geared toward programmatic, automated, and AI-driven ecosystems. This news has helped UNI token prices climb by 14.2% in the past 24 hours, and the daily trading volume has spiked by 81%.
The wider crypto market has made a 2.3% bounce in the past 24 hours, helping bolster short-term UNI sentiment. How much higher can this bounce go?
The pessimistic long-term view
Source: UNI/USDT on TradingView
On the 1-week chart, the importance of $4 as a support was made abundantly clear. This level had been defended from June 2022 to January 2026.
Since then, the DEX’s governance token price slipped below this support and retested it twice as resistance. The latest Uniswap price move down to a swing low of $2.316, made in early June, highlighted the bearish long-term bias.
Source: UNI/USDT on TradingView
A set of Fibonacci retracement levels was plotted using this move downward. The current bounce was operating within the bearish swing structure. Though the RSI managed to cross over above neutral 50, the OBV was unable to approach the highs made in mid-June.
This indicated short-term upward momentum but a lack of sustained buying pressure amidst a longer-term bear trend.
Traders’ call to action- Sell the bounce
Source: CoinGlass
The liquidation map showed a larger cumulative short liquidation leverage piled up overhead, up to $3.52. With a few clusters of high-leverage short positions, the price move toward $3.5 appeared more likely in the short-term based on the chart above.
If Bitcoin [BTC] does not see a swift sell-off in the coming days, there is a chance of a UNI bounce toward $3.5.
Traders can use such a bounce to sell the token, although a move to the 78.6% retracement level at $3.77 can not be ruled out. Overall, swing traders can maintain their bearish bias till the $4.17 swing high is broken.
Final Summary
- The Robinhood-Uniswap collaboration announcement, alongside a wave of respite across the wider crypto market, has made room for a UNI rally.
- The long-term Uniswap price trend was severely bearish, and the current bounce was only a minor move within this downtrend.
