Uniswap (UNI) sank 6% while institutional investors sell $ 82m, up to 20% still a month
The cryptocurrency market is experiencing significant excitement as Uniswap’s Uni token faces intense sale pressure.
After establishing a resistance to $ 6.780, UNI dropped down with many periods of high -volume sale, which breaks critical support levels, according to the technical review model of CoinDesk Research’s technical research.
This volatility will come as blockchain data shows large institutional holders moved the UNI’s large position to centralized exchanges, with two addresses moving 11.65 million tokens ($ 82.38m) in Coinbase Prime.
Technical assessments
- Uni-USD refused from $ 6.658 to $ 6.286, representing a 5.59% collapse within 24 hours.
- The token established a clear level of resistance to $ 6.780 at midnight time with high volume (2.02m).
- Multiple periods of high volume sale occurred between 05: 00-07: 00 and again at 10pm, with the latter seeing the highest 24-hour volume (2.43m).
- The price below the critical $ 6.30 support level was damaged during high -volume sale.
- The general trade range of $ 0.541 (8.12%) reflects the increased volatility.
- In the final time, UNI experienced intense volatility with a dramatic price collapse from $ 6.387 to a low $ 6.239 (2.3% drop).
- A severe damage occurred at 13:33 when the price dropped by 5.1% in massive quantities (48.8k).
- Even the heavier sale at 13:48 (116.4k quantities) pushed the UNI in time low.
- A well-known recovery appeared in the last minutes, the price lift back to $ 6.304, which establishes a potential short-term support in the zone.
Denial: This article was formed using AI tools and our editorial team reviewed to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s entire AI policy. This article may include information from external resources, listed below as appropriate.
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