Uniswap (UNI) continues to be one of the best-performing altcoins in the past 30 days, booking a 30% gain in the past 30 days following the launch of its protocol on the Robinhood Chain.
Trading volumes for UNI remain high, sitting at $183 million in the past 24 hours and accounting for nearly 8% of the asset’s circulating market cap.
Just two days ago, UNI hit its 200-day exponential moving average (EMA) from below for the first time since November 2025.
Market participants tend to keep track of the 200-day EMA as an indicator of whether an asset is on a long-term uptrend or downtrend.
Hence, this is a relevant technical event that could either set off a strong sell-off or mark the beginning of Uniswap’s next leg up if the price manages to rise past this technical indicator.
Just a few hours ago, Uniswap stated that its protocol hit $10 billion in cumulative trading volumes within the Robinhood Chain. This milestone was hit in just 30 days, reflecting users’ strong demand for on-chain transactions.
Robinhood is one of the largest online brokers in the United States, with an estimated total of 22 million active users. The vast majority of its users are young investors. This age group tends to have a much better understanding of cryptocurrencies than the average American.
Thus far, Uniswap has managed to attract 1.5 million monthly active users (MAUs) within the Robinhood Chain, making it the top decentralized protocol by this particular metric.
Meanwhile, the exchange has collected $26 million in fees in just 30 days solely from the transactions made within this blockchain. That figure represents nearly 60% of what Uniswap collected in June, before its Robinhood Chain AMM was launched.
As a result, on-chain data from DeFi Llama indicates that July’s fees have increased to nearly $88 million just three days before the month ends. These are the highest monthly fees on record since October 2025.
Similarly, DEX volumes rose from $43 billion in June to a projected total of $50 billion this month, making this the second consecutive month of positive growth.
Heading to the daily chart, we were expecting this retest of the 200-day EMA from below since we published our latest Uniswap price prediction just a week ago.
A break above a key trend line resistance anticipated this move, but now UNI is at a crossroads as market conditions remain unfavorable for cryptos as a whole — a situation that could still prevent the token from rising past this technical indicator.
Meanwhile, the Relative Strength Index (RSI) just posted a bearish divergence, indicating that momentum is weakening even though the price has kept climbing.
If UNI fails to rise above $4, the odds of a strong pullback will increase significantly. In that case, the next support to watch would be $3.4.
However, if the opposite occurs and buyers manage to trigger a strong enough short squeeze by pushing UNI above the 200-day EMA, we could see this token rising to $6 in the mid-term and defy the market’s gravity — similar to what Hyperliquid (HYPE) did earlier this year.
Alejandro Arrieche specializes in drafting news articles that incorporate technical analysis for traders and possesses in-depth knowledge of value investing and fundamental analysis.