Uniswap Witnesses Historic Spike; Will Key Zone Hold?

Daily active wallets reached 14,591, the highest in a year, while 13,137 new UNI addresses were created in a single day, marking the largest network growth spike since September 2020. At the same time, price is consolidating around $7 after a sharp recovery earlier this year.

Santiment data shows the surge in usage following a series of ecosystem upgrades. Aggregator Hooks now route external liquidity through Uniswap v4, VolatilePair Hooks expanded dynamic pricing, and Unichain’s OP Enterprise upgrade is scheduled for October 29.

The swift combination has coincided with the strongest new crypto wallet growth the network has recorded in roughly six years.

Active addresses climbing to a one-year high adds further evidence that more wallets are interacting with UNI in the near term.

Santiment notes that $7 remains the key level to hold. A sustained move above roughly $7.50 would be the first confirmation of stronger momentum, while continued elevated activity above $7 would keep an $8 target in view.

Conversely, a drop back below $7 paired with a collapse in active addresses would suggest the recent spike was temporary rather than the start of sustained adoption.

On the weekly chart, UNI broke out of a falling wedge that formed after the $19 high. The token ran from roughly $2.60 to $10.90 before pulling back.

It is now retesting the $5–$6.60 zone from above - an area that has acted as support since 2022, was lost in January, and was reclaimed in September.

Holding this zone keeps a longer-term path toward $18 intact, according to the technical view. A weekly close back below $5 would invalidate the setup.

UNI is currently trading in the $7.10 to $7.15 range, sitting right at the intersection of the recent on-chain surge and the technical support zone.

The address growth and active-user spike provide a fundamental backdrop, while the daily chart shows UNI’s still placed above several moving-average based thresholds.

Whether the historic network activity translates into lasting demand will largely depend on whether price can continue holding above $7 while activity remains elevated.

A clean break higher would align the on-chain and technical signals; a dip below $7 with fading addresses would leave both the short-term momentum and the larger wedge structure lacking.

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