Uniswap price stalls after 50% rally as UNI holds key support

Uniswap's token (UNI) pulled back to $9.53 after briefly nearing $11 on Sept. 23, leaving it up 5.1% in 24 hours and over 50% for the week, according to CoinGecko data. The rally was driven by CME Group's Sept. 22 announcement of regulated Uniswap futures launching Oct. 19, with standard contracts representing 10,000 UNI and micro contracts 1,000 UNI. Open interest near $971 million shows leverage building, while technical indicators like Parabolic SAR at $9.39 remain supportive. Key support levels are $9.39 and $9, with a break below signaling potential reversal. A daily close above $11 could open the path toward $12. Uniswap's fee mechanism, active since December 2025, burns UNI permanently, with governance voting on expanding it to Arc's network through Sept. 23.