Investor Buys 400K UNI, Price Jumps to $6.30
Key Takeaways
- A major investor (whale) purchased over 400,000 UNI tokens worth USD 2.46 million.
- The price of Uniswap (UNI) rose from USD 5.80 to USD 6.30 following the purchase.
- 78% of futures contracts on UNI are long positions – indicating strong market optimism.
- The spot market shows a clear buying dominance with over 3 million UNI bought.
- A sustainable price increase is possible but depends on continued buying interest.
Whales Are Returning – A Sign of Confidence?
A single large investor recently acquired 401,573 UNI tokens on Binance. The purchase value was approximately USD 2.46 million. Such transactions often indicate a strategic entry – the buyer likely sees the current price as attractive.
Other market participants are also showing increased interest. According to data from Coinalyze, a total of 3.18 million UNI tokens were purchased. This resulted in a buy surplus of 907,000 tokens, signalling clear buyer dominance.
Futures Market Indicates Clear Direction
A look at the futures market reinforces the positive trend. The so-called funding rate – an indicator of market sentiment – has been positive for several days. This means traders are largely betting on rising prices.
Specifically, 78% of all open futures positions are long. Only 21.83% are short positions, betting on falling prices. This distribution reflects strong optimism. As long as there is no major market correction (long squeeze), the price could continue to rise.
Technical Outlook: Between Recovery and Resistance
The UNI price recently dropped to USD 5.80 after a breakout attempt at USD 7.60 failed. Instead of triggering panic, the decline apparently sparked new buying. The price recovered to USD 6.30.
The USD 6.00 level currently acts as support. If buying pressure continues, price targets of USD 7.08 and USD 7.60 are realistic. However, if interest fades, UNI could fall back to USD 5.70.
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What Does This Mean for You as a Trader?
Market sentiment is clearly bullish at the moment. Both institutional and retail investors are showing buying interest. However, caution is warranted. The strong long positioning increases the risk of a quick price drop if sentiment shifts.
If you’re considering investing in UNI, closely monitor price action around the USD 6.00 level. A stable hold above this level could indicate a continuation of the upward trend. A drop below it would be a warning sign.
Our Assessment
Uniswap is currently showing signs of a short-term recovery. The entry of large investors and buying interest in both the spot and futures markets suggest a positive outlook. However, the market remains vulnerable to corrections, especially in the case of overly one-sided positioning.
If you want to trade UNI, wait for confirmation of current strength – such as a sustained breakout above USD 6.50. Without clear signals, entering could be risky. Stay alert and use technical levels for guidance.
Sources
- Coinalyze
- Lookonchain
- AMBCrypto
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