Uniswap’s UNI token is under renewed selling pressure as technical indicators flash increasingly bearish signals, raising the risk of a steeper near-term decline. The daily chart shows a series of lower highs and lower lows, while the Relative Strength Index has dipped below the neutral 50 level and the MACD line has crossed below its signal line. Analysts are watching key support levels at $8.50, $7.80 and $7.00.
According to on-chain data, a Uniswap investor transferred 9.295 million UNI to Coinbase Prime’s hot wallet around 10:20 AM, with a total value of approximately $33.46 million at the time. The investor had previously profited from UNI’s price surge after the fee switch mechanism was implemented in the Uniswap ecosystem last November. UNI’s roughly 8% drop today has been attributed to this transfer, although there is no definitive confirmation that it was made for direct sale purposes.
Broader market conditions are adding to the pressure. Trading volumes for UNI have been below average, suggesting weak buyer conviction, while regulatory concerns around decentralized finance continue to weigh on sentiment. Separately, whale Machi Big Brother was liquidated twice in ETH long positions overnight, losing about $2.5 million, then reopened an ETH long position worth approximately $4.6 million with roughly 25x effective leverage.
