Uniswap Whale Re-enters Market with $3.97 Million Purchase of UNI
Uniswap's token, UNI, is trading at $6.55, marking a 12% increase in the last 24 hours, with a trading volume of $307 million, up by 60%. A notable whale, dormant for three years, re-entered the market today with a $3.97 million investment, purchasing 662,606 UNI tokens at an average price of $5.99, resulting in an unrealized profit of approximately $42,000.
The whale previously profited $17.6 million by buying UNI at $3.87 and selling at its 2021 peak of $42.88. Current market signals indicate potential bullish trends:
- Crypto platform Rose Premium Signals identified a cup formation on the weekly chart, suggesting targets of $15.16 and $19.34.
- Daily RSI stands at 57, indicating moderate bullish momentum.
- Bollinger Bands are widening; a breakout above $7.39 may lead to resistance at $8.00.
- A drop below $5.21 could trigger bearish sentiment.
- The Accumulation/Distribution indicator shows increasing inflows.
Earlier this month, Uniswap became the first decentralized exchange to exceed $3 trillion in cumulative trading volume.
UNI price chart with RSI and Bollinger Bands | Source: Trading View
UNI price chart with Accumulation/Distribution | Source: Trading View