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- Whales bought 8.96M UNI, signaling strong accumulation at recent lows.
- Technical indicators show early but fragile rebound momentum.
- UNI must reclaim $6.06 to confirm a trend reversal.
Uniswap’s decline has stretched for nearly a month, with the token sliding from a $10 rejection into a steady downtrend. After touching a low of $5.3, UNI found itself trading inside a descending channel, signaling persistent bearish pressure. But the latest market data suggests the downturn may be slowing—largely thanks to renewed whale accumulation at discounted levels.
Whales Buy Nearly 9 Million UNI as Prices Hit New Lows
The steep pullback triggered a notable reaction from large holders. After UNI hit $5.3, whale wallets began absorbing sizeable amounts of supply. Over the past 24 hours, top holders collectively added 8.96 million UNI, selling only 1.4 million. This resulted in a strong positive balance shift of over 7.5 million tokens, indicating clear accumulation behavior.
In one of the most significant moves, a whale wallet (0xb5E4) withdrew 823,368 UNI—valued at $4.72 million—from Binance and Bybit within hours. The same address had previously sold heavily during the last rally, making the sudden reversal in behavior a noteworthy signal of regained confidence.
Exchange data corroborates the trend. UNI posted $17.32 million in outflows against $17.05 million in inflows, leaving Netflow at roughly –$269,000, a 39.6% decline. Negative Netflow often signals that tokens are shifting away from exchanges—an early marker of accumulation phases.
Technical Indicators Reveal Cautious Optimism
UNI has started to show faint signs of a rebound on daily charts. Buyers stepped in at the bottom of the channel, aligning with a bullish crossover on the Relative Vigor Index (RVGI) at –0.1140. Historically, RVGI crossovers at similar levels have preceded gradual improvements in upside momentum.
However, momentum remains fragile. The RVGI is still negative, and UNI continues to trade below its Parabolic SAR, implying bearish control has not fully faded.
Also Read: Uniswap Unlocks Access for 40M+ Revolut Users as Fiat-to-Crypto On-Ramps Go Live
What Comes Next for UNI?
If demand from whales and spot buyers continues, UNI could challenge the next resistance at $6.06—the point at which it must flip its Parabolic SAR. A sustained break may open a path toward $6.7.
But if buyer strength weakens, UNI risks revisiting the $5.3 support, potentially retesting the bottom of the descending channel before any meaningful recovery.
For now, the market sits at a critical juncture: whale accumulation has improved sentiment, but confirmation depends on whether buyers can maintain pressure through resistance.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
