Uniswap’s native UNI token has risen by 10% this week amid a wider altcoin market rally.
The move comes as bitcoin BTC consolidates around $108,000 after setting a record high of $111,970 last week.
UNI is currently trading at $7.04 after rising to as high as $7.63 at 03:35 UTC. It is currently testing the $7.00 level as support, which had been a point of resistance over the past week.
If UNI holds above $7.00, it could establish a firm level of support before springing toward $10, which spurred a rejection in February.
CoinMarketCap’s Altcoin Season Index is currently at 25, the top-end of a bitcoin-centric market but rising significantly since last month, when it was at 12. The index signals an altcoin market when it passes through 75.