- Uniswap UNI token surged 17% to a two-month high of $7.67, driven by strong whale accumulation and rising trading volume.
- Despite bullish momentum, exchange inflows hint at potential profit-taking near resistance levels.
Uniswap native token, UNI, surged 17% in a powerful rally to reach $7.67, marking its highest level in two months. The breakout above the critical $7.50 resistance was fueled by a sharp uptick in whale accumulation and buying pressure on spot markets—setting the stage for a potential trend reversal.
Data from IntoTheBlock shows that large holders accumulated a net 339,000 UNI, with whale inflows totaling 6.75 million tokens, exceeding outflows of 6.3 million. Meanwhile, spot market activity confirmed growing bullish sentiment, as taker buy orders amounted to 6.96 million UNI—flipping the Cumulative Volume Delta (CVD) into positive territory for the first time in weeks.
Also read: Bitcoin Whales Accumulate 122,000 BTC in 6 Weeks — Is a Major Bull Run Coming?
This surge wasn’t just limited to price. Trading volume also exploded, up nearly 90% to $1.53 billion, with daily spot volume reaching $901.6 million during the peak. UNI’s market cap now stands at approximately $4.5 billion, placing it just outside the top 20 cryptocurrencies by size.
However, caution may be warranted. Exchange netflow remains positive for the second straight day, a sign that some holders might be preparing to take profits as the price nears resistance zones. Historically, higher exchange inflows suggest increased selling pressure.
From a technical perspective, UNI sits at a pivotal moment. A “golden cross” may soon form near $7.818—an event that could validate the ongoing uptrend. Still, losing support at $6.87 would risk erasing recent gains. Immediate support lies around $7.00, while resistance looms at $7.60 and $8.10, the latter aligning with the 200-day simple moving average.
The Relative Strength Index (RSI) at 56 shows the token isn’t overbought yet, leaving room for further upside. Short-term charts show higher lows forming—another bullish signal if the $7.00 level holds.
For now, UNI’s outlook hinges on volume and momentum. A breakout above $7.60 could bring $8.10 into play, while a dip below $7.00 might invite renewed selling. As whales make their move, all eyes are on whether retail buyers will follow.
