UNI Price Prediction: Breakout to $9 as Uniswap Labs Inc. (UNI) Regains Momentum After SEC Case Closure

Uniswap's native token, UNI, is regaining momentum following the conclusion of its legal battle with the United States Securities and Exchange Commission (SEC).

The legal battle between the U.S. Securities and Exchange Commission (SEC) and Uniswap appears to be coming to an end, and the outcome could have a significant impact on the decentralized exchange’s native token, UNI.

According to a report by CoinChapter, the regulator is closing its case without taking any enforcement action, which could open the door for UNI to continue recovering.

The apex court ruled that smart contract operators should not be held accountable for the actions of their users.

"This decision is a win for Web3 and DeFi protocols. We're glad the court recognized that smart contract operators should not be held accountable for the actions of their users," said Hayden Adams, founder of Uniswap Labs.

This ruling marks a crucial moment in the ongoing dialogue between the crypto industry and regulators.

While the SEC has been active in pursuing cases against cryptocurrency platforms, this case against Uniswap was closely watched due to its implications for the DeFi sector as a whole.

The regulator had reportedly been investigating whether Uniswap facilitated the trading of unregistered securities on its decentralized exchange.

However, the court's decision to close the case without taking any further action seems to indicate that these claims were not pursued or were ultimately dismissed.

This ruling could have far-reaching consequences for other DeFi platforms that might find themselves subject to regulatory scrutiny.

The court's verdict reinforces the legitimacy of DeFi protocols and their ability to operate within existing legal frameworks.

This development arrives as Uniswap's price shows signs of recovery after encountering resistance at the 50-day Exponential Moving Average (EMA), currently standing at $10.43.

After bouncing back from lows of $7.89, UNI is now trading at $8.08, aiming to break out of a descending trendline that has kept prices suppressed for weeks.

Moreover, the Relative Strength Index (RSI) is sitting at 31.63, approaching oversold territory. This suggests that sellers might be losing steam, and a push above 37.87 could confirm renewed buying interest.

If buyers manage to maintain control and push above the 50-day EMA, the next resistance level to watch could be the 200-day EMA, also at $10.44.

A decisive breakout above this zone could indicate a sustained bullish trend.

CryptoQuant data reveals that a large amount of 2.7 million UNI has moved off exchanges, indicating accumulation.

Historically, high outflows have preceded price rebounds, as seen in early 2023 when UNI surged from lows of $3 to reach highs of $17.

As the legal uncertainty lessens and bullish technical indicators emerge, Uniswap's price could be poised for a breakout. Traders will be closely monitoring the $8.50 and $9.00 resistance zones as key levels to watch in the near term.

A clean break above this range could open the door for a rally toward $10 or higher.