Uniswap’s total value locked on Robinhood Chain surged past $100 million following a 100% monthly increase, signaling growing liquidity. Bullish derivatives positions dominated, with Binance’s top traders holding 71.2% long positions and a Long/Short Ratio of 2.47. Spot taker buying also persisted despite UNI’s price decline. However, the token must defend the $3.183 support level to enable a recovery toward $3.489 and $4.000, as the RSI fell to 35.88 near oversold territory.
Uniswap’s Robinhood Chain TVL reached $100 million recently after a monthly hike of 100%. The uptick hinted at emerging liquidity within Uniswap’s presence across the emerging network.
Capital gradually picked up speed toward the end of June and July. In August, the TVL surged to over $100 million, continuing liquidity inflows into the protocol.
This expansion bolstered UNI’s already solid fundamentals, despite its less robust market structure. A high TVL revealed that more capital was staked on Uniswap on Robinhood Chain.
Though UNI fell from its early-August levels, bullish derivatives positions remained high. Binance’s top traders had 71.2% long positions and 28.8% short positions.
As a result, the Long/Short Ratio grew to 2.47, making bullish trades more than twice the size of bearish trades. This positioning suggested that the biggest traders stayed long despite the downtrend.
UNI dropped from above $4.40 before bottoming around the lower $3 area. Yet top traders continued favoring longs rather than shifting to bearish exposure.
Spot activity also offered support, with the 90-day Spot Taker CVD being taker-buy dominant. Buyers executed more aggressive market orders than sellers across the measured period.
Buyer dominance persisted while UNI saw substantial price weakness in August. Such divergence suggested that aggressive demand had not disappeared alongside the broader correction.
Uniswap was trading near $3.266 after sellers drove the price under the $3.489 level. However, the token did not break below its $3.183 support, maintaining an immediate base for a recovery attempt.
The RSI fell to 35.88, much closer to oversold territory than neutral conditions. A sustained hold of $3.183 could allow improving demand conditions to challenge $3.489 again.
Reclaiming that barrier would help strengthen the recovery toward the $4.000 resistance. On the other hand, a breakdown of $3.183 would open up the $2.780 support, limiting the bullish fundamental setup.
