Uniswap, a top-performing decentralized finance token, is making headlines with a 40% surge, reaching a four-month high despite a broader market pullback. The token's bullish momentum continues to build, showing over 10% gains in the last 24 hours. As most cryptocurrencies consolidate, UNI stands out in the market.

On June 10, UNI/USD climbed 40%, closing at $8.66, setting a new high. It witnessed a slight pullback to $8.38 but remains up 17% for the day. High demand for long positions is highlighted by a surge in the token's funding rate, now at a monthly high of 0.013%.

Positive funding rates reflect bullish sentiment and interest in leveraged trades. Additionally, UNI's Elder-Ray Index indicates strong buyer pressure, supporting a bullish outlook. Green histogram bars show buyer dominance, suggesting potential for continued rallies.

Further buying pressure could propel UNI to $9.46, possibly turning this into a support floor. Future bullish movement could target $10.25, seen last February. However, profit-taking may challenge this, risking a drop to $8.07 or even further to $7.08.