UNI's price is gaining momentum after successfully defending the $5.50 support level, following the UNIfication proposal's token burn. The initiative involved a one-time burn of 100 million tokens, valued at $591 million, alongside ongoing fee-based burns to enhance scarcity. Technical analysis indicates $5.50 as a strong demand zone, with potential price targets at $6.65 and $8.25. Momentum indicators, including the Money Flow Index (MFI) and Moving Average Convergence Divergence (MACD), are showing positive trends, while on-chain data reveals a 15% increase in trading volume.