Key Takeaways
Whale withdrawal of 408,557 UNI and $1.35 million outflows signaled growing accumulation. Meanwhile, Exchange Reserves dropped 4.18%, while derivatives data showed strong bullish positioning.
Uniswap [UNI] accumulation has strengthened after a fresh whale wallet withdrew 408,557 UNI worth $4.11 million from Binance.
This move aligned with netflow data showing a $1.35 million outflow, reflecting growing exchange exits.
At press time, UNI traded near $9.58, holding above short-term support. Whale withdrawals and declining inflows often highlight rising conviction among holders.
However, the key test lies in whether demand will grow strongly enough to convert accumulation into upward momentum.
Therefore, UNI’s current setup suggests mounting pressure could spark bullish continuation soon.
Can UNI defend its $8.72 support to spark a rebound?
UNI has respected its ascending trendline, with the $8.72 zone emerging as a crucial support.
If this level holds, upside targets appear at $12.32, $15.33, and eventually $18.00. However, if UNI slips below support, it risks extending losses before regaining momentum.
At the time of writing, the DMI indicator highlighted ADX at 23.50, confirming only moderate strength in UNI’s current trend. Importantly, the +D line sat above the –D line, showing that buyers maintain a slight edge.
This balance, however, remains fragile, as any shift with the –D line crossing higher would suggest increasing bearish control.
Therefore, UNI’s ability to defend $8.72 support is crucial, since holding this zone would preserve bullish bias, while a breakdown could shift momentum firmly in favor of sellers.
Source: TradingView
Are derivatives traders preparing for UNI’s next breakout?
Derivative markets show UNI traders leaning bullish, with Binance data recording 61.54% long accounts versus 38.46% short.
The Long-to-Short account ratio stood at 1.60, at press time, reinforcing optimism among participants. Futures market activity has also flagged “Big Whale Orders,” indicating significant volumes are backing bullish setups.
However, high long concentration can expose UNI to sharper liquidations if momentum slows. Even so, the derivatives landscape suggests that conviction remains with the bulls.
Will tightening exchange reserves trigger a supply squeeze?
UNI exchange reserves have fallen to $819.78 million, reflecting a 4.18% decline. Such reductions in reserves often precede price squeezes, as fewer tokens remain accessible for immediate trading.
This dynamic typically limits sell-side pressure, leaving markets more sensitive to shifts in demand.
Coupled with consistent outflows, the setup points toward constrained supply conditions that could favor bullish continuation. However, demand still needs to accelerate for this impact to materialize.
Hence, UNI’s exchange environment suggests a tightening backdrop that could amplify price action if buyers step in aggressively.
Is UNI setting up for a decisive breakout?
UNI’s outlook is reinforced by whale accumulation, persistent outflows, technical support at $8.72, and derivatives positioning that favors the bulls. Exchange reserves dropping further validate tightening supply conditions.
While caution remains necessary given volatility risks, the balance of evidence currently leans in favor of buyers.
Therefore, if UNI continues to hold key support while attracting leveraged confidence, the case for a rally toward $12.32 and beyond strengthens considerably.
This could set the stage for what could be a decisive breakout in the coming sessions.
