Uniswap Price Insights

Uniswap was nearing a key weekly support level that has sustained its price since December 2020. Accumulation from Smart Dex traders indicates increasing interest in buying UNI.

As of the latest update, Uniswap (UNI) was approaching significant support at $3, which has protected against price drops since December 2020. Historically, UNI has responded bullishly when faced with this price point, recovering in mid-2022, mid to late 2023, and Q4 2024 after touching this level.

Currently, the MACD indicator shows a bearish trend, with values at -0.596 for the MACD line, -0.503 for the signal line, and -0.093 for the histogram. The negative MACD line suggests potential declines towards the $3 benchmark.

Should the price drop to $3 and begin to rise while the histogram narrows, it could indicate bullish convergence. A previous double-bottom pattern at $3 in late 2024 triggered bullish momentum, reinforcing the importance of retaining this support level. A breach below $3 could, conversely, indicate a shift toward a bearish trend.

Smart Dex Traders Accumulation

Recent assessments of smart money accumulation on Ethereum highlighted a buy volume of $64.9K for UNI, with no selling activity, reflecting strong market confidence. The average purchase price has been recorded at $6.5, accumulating a total volume of $66.3K, hinting at initial buy interests as Uniswap approaches the $3 support level.

The absence of selling signifies confidence in the market and potential reversal signs. Other tokens like WLD also show similar accumulation patterns, indicating overall optimism.

The trend of UNI might continue gaining upwards momentum if buying activity persists. However, inadequate consistent buying could postpone a potential reversal.

Ownership data for UNI reveals significant dynamics, with whales showing a +2.15% change over the last 30 days, indicating accumulation, while investors experienced a -4.06% change reflecting profit-taking – retail ownership has increased by +1.71%, suggesting moderate accumulation.

Whale accumulation signifies bullish pressure that could elevate UNI prices if maintained, whereas investor selling may limit gains and risk a drop below $3. The changing ownership dynamics, particularly whale interest, could greatly impact UNI’s potential for reversal.