Uniswap's Surge: Record Volumes and Bullish UNI Price Action

Uniswap's UNI token has seen a significant increase in activity, with $38 billion in monthly volume across Ethereum Layer-2 networks, leading to bullish sentiment and a current trading price of $12.95. The token is testing a key resistance level at $13, with potential for further gains if it breaks through. On-chain data shows positive indicators such as increased large transactions and network growth, but the RSI suggests overbought conditions, indicating possible pullbacks. Traders should be cautious as exchange reserves and liquidation data present mixed signals.