Uniswap price eyes $4 after scam-token lawsuit dismissal

Uniswap price has rebounded toward $4 after a U.S. judge dismisses a long-running scam-token lawsuit against Uniswap Labs.

Uniswap (UNI) is trading at $2.83 at press time, up 1.6% in the past 24 hours. The token has gained roughly 15% in the past 7 days, though it remains down 2.3% over the last month. Price is now pushing toward the upper end of its recent seven-day range between $3.30 and $4.12.

Market activity has increased. Spot trading volume reached $251 million in the past 24 hours, a 30% jump from the previous day. 

According to CoinGlass derivatives data, open interest increased marginally to $243 million, while volume increased 18% to $311 million. As sentiment improves, traders seem to be increasing exposure.

Court ends nearly four-year lawsuit

The rally follows a major legal victory for Uniswap Labs. On Mar. 2, Judge Katherine Polk Failla dismissed the remaining state-law claims in the case known as Risley v. Universal Navigation Inc.

In the April 2022 lawsuit, Uniswap Labs, its founder Hayden Adams, and a number of venture capital firms were accused of facilitating fraud related to dozens of alleged scam tokens that were traded on the platform.

The plaintiffs claimed that between 2021 and 2022, “rug pulls” and pump-and-dump schemes caused them to lose money.

Earlier federal securities claims were dismissed in 2023 and later upheld on appeal. The case cannot be reopened because the final decision dismissed the remaining claims with prejudice. 

The court ruled that Uniswap, an Ethereum decentralized and permissionless protocol, cannot be held accountable for the acts of independent third-party token issuers. The alleged fraud came from anonymous creators, not from the protocol itself.

The decision removes a major legal overhang. UNI rose shortly after the news.

Uniswap price technical analysis

On the daily chart, UNI has bounced from the $3.10–$3.20 area, where several candles showed strong rejection wicks. That zone aligns with the lower Bollinger Band and suggests buyers stepped in after a prolonged decline.

Price has now reclaimed the 20-day moving average, currently around $3.55–$3.60. For weeks, this level acted as resistance. It is now being tested as support. The moving average is starting to flatten, which often signals that selling pressure is easing.

RSI has recovered from near-oversold levels around 25–30 and moved above 50. This shows that momentum has shifted from bearish to neutral-bullish. A move toward 60–65 would support further upside.

The key level to watch is $4.00–$4.05, a psychological resistance area near the upper Bollinger Band. A daily close above $4 would confirm short-term reversal momentum and could open the way toward $4.40–$4.60.

If price fails at $4, a pullback toward $3.60 is possible, with stronger support near $3.20. At this stage, UNI is attempting to turn higher. A decisive break above $4 would strengthen the recovery narrative and suggest that the rebound has room to extend.