Uranium ETFs Test Support as U.S. Supply Gap Returns to Focus

The €52 level has become a resistance point for the WisdomTree Uranium and Nuclear Energy ETF, which then provides support, said Nicolas Chéron.

In the meantime, the broader supply narrative goes on. With imports having risen to 99% of the uranium concentrate consumed by U.S. nuclear generators in 2023, according to EIA data, attention was drawn to domestic uranium projects and nuclear fuel security.

ETF Charts Test Support

The €52 level has three significances, Chéron said. It is the sign of some resistance that has been overcome; the 200-day moving average still has a positive slope and a big rising trendline.

His chart displays the WisdomTree Uranium and Nuclear Energy ETF (URIA) rising through 2024 and 2025 but then slowing down at the upper €50 levels. Since then, the price has been stagnant, and buyers have held off attempts at higher price levels during each pullback.

That building now brings the ETF to a decision area. The continued uptrend would remain intact with a hold in the vicinity of €52, allowing another push to recent highs to be maintained.

But if it breaks below the upside trendline, it would be a failure of the setup. If so, traders can begin to keep an eye on the 200-day moving average as the next key milestone.

URA Faces Similar Pressure

Cheds Trading also highlighted a move away from uranium, noting that URA is experiencing an uptrend. His chart indicates the Global X Uranium ETF is testing a support area it has been testing for a number of years since 2025.

The URA chart has also had to battle a horizontal resistance band multiple times. The price would come close to breaking out on each test, but sellers kept the ETF within the upper bound.

That said, the upward trend remains, with buyers picking up on higher prices. That maintains the structure constructively as long as the supports are there.

A move above the resistance zone would provide a good continuation signal for the ETF. If the trendline was breached, it would indicate that additional time is required for the sector to realign and get ready for the next move up.

Supply Gap Shapes the Bigger Story

DA Sails connected the uranium trade to dependence on U.S. supplies. The account stated that in 1980, the United States was producing about 43 million pounds of domestic output a year, but today, the production is around 50,000 pounds a year.

Production returned to approximately 677,000 pounds in 2024, but the deficit is significant. In addition, DA Sails said, Energy Fuels’ White Mesa plant in Utah is the only “running” conventional uranium mill in the United States with excess capacity.

Within this theme of a rebuild, Manhattan Uranium was emphasized. The company has 25 projects in the U.S. in Utah, Colorado, and Nevada, representing over 25,000 acres, of which 15 have had production at some time in the past.

Catalysts for Key 2026 involve a funded 25 to 30 hole drill program at Murmac in the Athabasca Basin, drill permits at Apex (Nevada), and resource work at the I-70 Project (Utah). The uranium ETFs have rallied, testing support as the supply theme gains traction.