SEC Ends Uniswap Probe, Boosting UNI Token Amid Market Uncertainty

• UNI surges post SEC clarity as regulatory relief sparks bullish momentum while Uniswap advances v4 and Unichain mainnet developments
• Breakout signals bullish shift as UNI breaks resistance, forming higher highs and lows with a potential 405 percent rally targeting 42.49 dollars
• Resistance may slow gains but temporary pullbacks are likely while strong buying pressure supports a sustained bullish trend.

The U.S. Securities and Exchange Commission (SEC) shut down its investigation of Uniswap Labs. The action led to a short-term surge in the price of Uniswap’s UNI token during ongoing bearish market conditions. Furthermore, this positive regulatory news comes as Uniswap advances in the release of its v4 upgrade and Unichain mainnet.

Uniswap CEO Hayden Adams similarly welcomed the SEC’s action. He also highlighted the need for various regulations tailored to DeFi, arguing that traditional finance regulations are not suited for decentralized platforms.

UNI’s Technical Breakout and Market Outlook

UNI recently broke out of a long-standing resistance trend, igniting renewed bullish momentum. This breakout confirms a strong technical signal, potentially leading to significant gains in the coming months. Besides, traders anticipate further upward movement, with a projected breakout target of $42.49, representing a 405% price surge from current levels.

A distinct shift from a bearish to bullish trend is evident. After forming lower highs, UNI successfully breached its downward trendline, signifying a momentum reversal. Moreover, the price now exhibits a pattern of higher highs and higher lows..

Furthermore, UNI faces crucial resistance levels, which may cause temporary pullbacks before another potential rally. However, its current consolidation suggests increased buying pressure, which could support future price growth. The absence of volume data leaves some uncertainty, but price action indicates strong trading activity.

Currently, UNI hovers around the $8 range, maintaining a stable position following its breakout. The long-term projection points toward a price above $40, hinting at a possible extended bullish run. Historical price action shows UNI previously enduring intense selling.