Uniswap Price- Is UNI Gearing Up for a Breakout?
Uniswap Price– Uniswap (UNI) recently attempted to break out of a parallel trading channel, rallying to a local high of $7.60. However, this surge was met with strong resistance, causing the price to retrace sharply to $5.80. Instead of sparking fear, the dip seems to have triggered fresh buying interest.
Whale Activity Signals Renewed Confidence
Large holders—known as whales—have started accumulating Uniswap (UNI) again. Blockchain analytics platform Lookonchain reported that one whale acquired 401,573 Uniswap (UNI), worth approximately $2.46 million, directly from Binance. This strategic buy suggests that institutional players consider UNI undervalued at current levels.
And it’s not just one buyer showing interest. Spot trading data reveals that a total of 3.18 million UNI tokens were purchased recently, with a notable positive volume imbalance of 907,000 UNI—indicating demand outweighs selling pressure.
Demand May Drive Price Recovery
The $6.00 level is now acting as a solid support zone. After dipping to $5.80, UNI has since bounced back to $6.30, supported by buying from both whales and retail investors.
According to AMBCrypto’s analysis, “Uniswap (UNI) had been experiencing strong demand,” suggesting the current move could be more than just a temporary rebound.
If this demand continues, Uniswap (UNI) may test the $7.08 resistance next, followed by a potential revisit of the $7.60 peak. However, if buyer momentum weakens, UNI could slide back toward $5.70.
The coming sessions will be crucial in determining whether this is a genuine trend reversal or just a short-term bounce.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
