Uniswap (UNI) has rebounded from a 24-hour low of $7,50, climbing to $8,243 after a major legal victory. The U.S. Securities and Exchange Commission (SEC) has officially dropped its investigation into Uniswap Labs, a case that initially accused the platform of operating as an unregistered broker. This decision removes a key regulatory overhang, boosting investor sentiment.

UNI’s Technical Setup Hints at a Recovery

UNI recently broke out of a descending triangle pattern that had been in place since 2021. This breakout, which occurred in November 2024, propelled UNI to a high of $19,46 before retracing.

The token has since tested support near $7, a crucial level that now aligns with the breakout trendline. Currently trading above the 100-day SMA, UNI needs to clear the 200-day SMA to confirm a renewed uptrend.

Can UNI Rally to $19 Again?

With regulatory uncertainty lifted and a strong technical setup, UNI has the potential for further upside. A successful bounce from current levels could push the price toward $12, with a move past key resistance levels opening the door for a retest of $19,50. If bullish momentum builds, Uniswap could be among the top-performing tokens in the coming weeks.