A significant whale transaction on the Uniswap platform has drawn attention as the UNI token tests critical support levels. A whale purchased 640,000 UNI tokens worth $2.29 million from the OKX exchange while UNI traded near multi-month support around $3.13. At the time of reporting, UNI's price hovered near $3.54, slightly above this key demand zone which has historically triggered sharp rebounds.
Despite this accumulation, UNI remains within a broader downtrend, capped by heavy resistance levels. The $4.92 level acts as a former support turned resistance, with $6.60 marking a stronger supply ceiling. Technical indicators show mixed signals: the Parabolic SAR flipped below the price near $3.01, suggesting a short-term bullish shift, while the MACD shows fading bearish pressure but no decisive crossover.
On-chain data reveals a 3.07% decline in UNI Exchange Reserve USD to $307.95 million, indicating a contraction in on-exchange liquidity. Simultaneously, Open Interest for UNI futures fell by 3.46% to $243.56 million, signaling traders are reducing leveraged exposure and exercising caution.
Meanwhile, Ethereum is experiencing similar whale accumulation despite price weakness. Ether dropped below the key $2,000 psychological level, posting a 20% decline through February to trade around $1,975. However, accumulation addresses added more than 2.5 million ETH during February, bringing total holdings in these addresses to 26.7 million ETH.
Network fundamentals remain strong, with Ethereum processing a record 17.3 million transactions last week while median fees plummeted to just $0.008 – a 3,000x decrease from 2021 peaks. Staking activity continues robust with over 30% of ETH's circulating supply (37,228,911 ETH) currently staked.
Specific whale cohorts show aggressive buying: addresses holding between 10,000 and 100,000 ETH accumulated 840,000 ETH since February 4. However, exchange reserves increased by 180,000 ETH over five days, indicating continued selling pressure. US spot Ethereum ETFs recorded their fourth straight week of outflows totaling $161.1 million.
Technically, ETH is forming an Adam and Eve bottom pattern on the four-hour chart. A breakout above the $2,150 neckline could target the $2,473 to $2,634 range. Current resistance sits at $2,107, with the 20-day EMA trending lower at $2,223. The Relative Strength Index reads 33, indicating weak momentum without reaching oversold territory.
Derivatives data shows ETH Open Interest declined to $11.2 billion from a cycle peak of $30 billion in August 2025, with 73% of global accounts holding long positions. Liquidation heatmaps reveal over $2 billion in short positions clustered above $2,200 and approximately $1 billion in long positions near $1,800.
