Uniswap’s decline continued after its rejection at $10 a month ago, with the token sliding into a descending channel and reaching $5.3.
As of press time, Uniswap [UNI] traded near $5.5, up 2.1% on daily charts. That small gain came after UNI dropped below its Parabolic SAR, which confirmed strong bearish pressure.
Even so, the recent cooldown created an attractive entry point for large holders.
Whales step in as UNI hits a discount
After Uniswap dropped to a low of $5.3, whales jumped into the market to buy the altcoin at a discount.
In fact, over the past 24 hours, UNI Top Holders added 8.96 million tokens to their holdings and sold only 1.4 million tokens.
Source: Nansen
As a result, the altcoin recorded a Positive Balance Change among the cohort of over 7.5 million according to Nansen data.
On top of that, Lookonchain flagged a large whale withdrawal.
Wallet 0xb5E4 withdrew 823,368 UNI worth $4.72 million from Binance and Bybit within five hours. The same whale had previously sold 2.818 million UNI during the Unification-driven rally.
That shift set up a clear signal of renewed confidence among large holders. Historically, increased whale demand has supported early reversal attempts.
By contrast, exchange flows also reflected accumulation behavior.
Source: CoinGlass
CoinGlass showed UNI recorded $17.05 million in Inflows versus $17.32 million in Exchange Outflows over 24 hours. As a result, Netflow stood near -$269k, representing a 39.6% decline.
Such negative Netflow is typically aligned with Spot-side accumulation.
Can UNI attempt a rebound?
UNI showed early signs of a rebound on the daily chart, with buyers stepping in at lower price levels.
That move aligned with a bullish crossover on the Relative Vigor Index (RVGI), which printed -0.1140. A crossover at this level often marked a gradual improvement in upside momentum.
Source: TradingView
Even so, RVGI remained in negative territory, meaning bears still held directional control. Under these conditions, buyer commitment will dictate UNI’s next move.
If demand persists, UNI may attempt to flip its Parabolic SAR at $6.06 and target $6.7.
However, fading demand could reopen a selling window, forcing UNI to revisit $5.3 before attempting another recovery leg.
Final Thoughts
- Uniswap’s structure improved as large holders accumulated aggressively and RVGI hinted at early momentum recovery.
- Still, bearish pressure hasn’t disappeared, and buyers must hold current levels to confirm a trend shift.
Credit: Source link