Uranium ETF Bull Run Threatened-Will a Supply Gap End the Boom?

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

According to Nicolas Chéron, the WisdomTree Uranium and Nuclear Energy ETF is facing resistance around €52, which is now acting as a support level.

Despite this, the overall supply situation remains important. In 2023, U.S. nuclear power plants relied on imports for 99% of their uranium, according to data from the Energy Information Administration. This has increased focus on developing uranium resources within the U.S. and ensuring a secure fuel supply.

ETF Charts Test Support

According to Chéron, the €52 price point is important for three reasons. First, it shows that previous resistance has been broken. Second, the 200-day moving average is still trending upwards. And third, a major upward trendline remains in place.

The price of the WisdomTree Uranium and Nuclear Energy ETF (URIA) increased throughout 2024 and 2025, but has since leveled off around the €50 mark. It hasn’t been able to break through that level, and each time the price dips, buyers haven’t pushed it higher.

This level is now a key point for the ETF. If the price stays above around €52, the current upward trend should continue, potentially leading to a new attempt to reach recent highs.

If the price falls below the upward trendline, it suggests the initial trading plan isn’t working. In that case, traders should watch the 200-day moving average as the next important level to monitor.

URA Faces Similar Pressure

Cheds Trading pointed out a shift away from uranium investments, while also observing that uranium is currently trending upwards. Their analysis shows the Global X Uranium ETF is approaching a long-term support level it’s tested repeatedly since 2025.

The URA chart has repeatedly faced a strong resistance level, preventing it from breaking higher. Each time the price neared a breakout, sellers stepped in to keep it below that level.

Despite some fluctuations, prices are generally still rising, and buyers seem to be accepting those increases. This positive pattern will likely continue as long as the existing price floors hold.

From my analysis, if the ETF breaks above the current resistance level, that would be a strong sign the upward trend will continue. However, if it falls below the trendline, I’d interpret that as a signal that the sector needs more time to stabilize before we see another push higher.

Supply Gap Shapes the Bigger Story

DA Sails highlighted a link between uranium trading and reliance on uranium from the United States. Their report showed that U.S. uranium production has drastically decreased – from approximately 43 million pounds annually in 1980 to only around 50,000 pounds per year currently.

Production bounced back to around 677,000 pounds in 2024, but a considerable shortfall remains. According to DA Sails, the Energy Fuels facility in White Mesa, Utah, is currently the only operating traditional uranium mill in the U.S. with the ability to increase output.

Manhattan Uranium is a key part of the company’s efforts to revitalize its operations. They currently have 25 projects spread across Utah, Colorado, and Nevada, totaling over 25,000 acres. Fifteen of these sites have previously produced uranium.

Key 2026 is planning significant exploration work, including a funded drilling program of 25 to 30 holes at their Murmac property in the Athabasca Basin, obtaining drill permits for their Apex project in Nevada, and conducting resource evaluation at the I-70 Project in Utah. Meanwhile, uranium exchange-traded funds (ETFs) have recently increased in value, suggesting growing investor interest in the limited supply of uranium.

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2026-05-15 23:12