Key Highlights: A large Uniswap-linked wallet has transferred 9 million UNI tokens worth $47.5 Million to Coinbase Prime

This marks its first activity over four years, sparking speculation about potential impacts on the Uniswap price.

A large Uniswap-linked wallet has transferred 9 million UNI tokens, valued at $47.5 Million, to Coinbase Prime.

This marks the wallet’s first activity in four years, sparking speculation about potential impacts on the Uniswap price.

The large transfer, part of a broader move seeing 19.21 million UNI tokens (about $108.5 Million) over the last week, has raised concerns about selling pressure.

With the market already in a bearish trend, this move could lead to a sharp decline in the UNI price, possibly dropping by 32%.

Uniswap Price May Drop 32% as Large Wallet Moves 9 Million UNI to Coinbase Prime

A large Uniswap-linked wallet has transferred 9 million UNI tokens, valued at $47.5 Million, to Coinbase Prime.

This marks the wallet’s first activity in four years, sparking speculation about potential impacts on the Uniswap price.

The large transfer, part of a broader move seeing 19.21 million UNI tokens (about $108.5 Million) over the last week, has raised concerns about selling pressure.

With the market already in a bearish trend, this move could lead to a sharp decline in the UNI price, possibly dropping by 32%.

Highlighting the significant activity, crypto analytics firm CoinGecko reports that UNI is currently trading at $5.23.

However, traders closely follow these developments as continued large deposits may signal more selling pressure.

Moreover, traders are watching to see if the broader market sentiment will drive UNI’s next price move.

Liquidations in both long and short positions could play a key role in the upcoming period.

If the Uniswap price drops, liquidation triggers could add downward pressure, accelerating a bearish trend, especially for highly leveraged traders.

Recent data from crypto derivatives exchange platforms shows significant liquidation volumes for short and long positions at various leverage levels, such as 25x and 50x.

A decline to $4.50, a critical support level, may trigger liquidations, pushing the UNI price lower.

However, a short squeeze could occur if the Uniswap price rises despite the large transfer. This would force traders betting against the token to cover their positions.

For this to happen, UNI must surpass resistance levels near $5.85. However, the current downtrend and resistance make a sustained bullish move challenging unless sentiment shifts.

Uniswap Price Predictions: Key Levels to Watch

The behaviour of UNI holders will largely depend on tracking essential support and resistance points in the coming days.

The previous weeks have shown multiple tests at the current support price of $4.55.

Uniswap price decline may accelerate once it drops below the $4.55 support level. If selling pressure continues, the price could fall to $3.00 or lower in the coming weeks.

The upside trend will indicate a reversal when UNI breaks above $4.55 support and pushes past $5.85 resistance.

The RSI suggests that UNI is in a neutral zone, indicating neither overbought nor oversold conditions. This means the asset could move in either direction depending on broader market trends and investor sentiment.

Technical indicators such as the RSI show that UNI is in a neutral zone, with no clear signals of overbought or oversold conditions.

The Choppiness Index (CHOP) is also relatively high, indicating that the market is currently range-bound.

As a result, UNI price struggles to gain momentum as it remains in consolidation. A breakout from this pattern would be needed for a more decisive move, either upward or downward.

The following period will establish if investors can preserve their support zones while whales’ actions remain a risk for significant price decline.

The bullish market trend remains uncertain since the big transaction introduced market instability. Price shifts during short periods mainly result from institutional movements and liquidation activities, so traders and investors must stay alert.