A large-scale purchase of Uniswap’s UNI token has drawn attention to a key support level. An investor acquired 640,000 UNI, worth $2.29 million, from the OKX exchange as the token traded near $3.13. This demand zone has previously triggered rebounds, but the token remains within a broader downtrend defined by heavy resistance levels.
A significant investor purchased 640,000 Uniswap UNI tokens, worth approximately $2.29 million, from the OKX exchange. This accumulation occurred as the token traded near a multi-month structural support level around $3.13.
At the time of reporting, UNI was trading near $3.54. The purchase aligned with a zone where sellers had previously failed to extend the downside, though repeated tests tend to weaken support.
Heavy resistance continues to define UNI’s market structure. The chart shows $4.92 acting as former support turned resistance, with $6.60 marking a stronger supply ceiling.
Each rally since the breakdown stalled beneath these zones, reinforcing bearish structure. Bulls would need to reclaim the $4.92 level to invalidate the current sequence of lower highs.
Technical indicators showed some short-term stabilization. The Parabolic SAR flipped below the price near $3.01, signaling weakened immediate downside momentum.
Meanwhile, the MACD showed histogram contraction as its line curved toward the signal line. Although both lines remained negative, the slope shift reflected fading bearish pressure.
On-chain data reflected a tightening of available supply. The Exchange Reserve USD stood at $307.95 million after a 3.07% decline.
When reserves fall alongside large Spot withdrawals, the circulating supply available for immediate selling decreases. This reduction can amplify price reactions if demand accelerates.
Derivatives market activity indicated caution among traders. Open Interest declined by 3.46% to $243.56 million, signaling reduced leveraged exposure.
When Open Interest declines during price stabilization, the market often undergoes a reset phase. This lower leverage reduces the risk of liquidation cascades.
