Uniswap price analysis!!!
According to the news crypto whale deposited 600,000 UNI tokens valued at $4.37 million onto Binance. This raised concerns of a potential price drop, as Galaxy had previously deposited 5.29 million UNI tokens worth $40.60 million on Binance and OKX within the past week. The large volume of tokens being deposited has alarmed investors.
Current Price Movement
Right now, UNI is trading at about $7.48, up 8% in the last 24 hours.
But during the same time, its trading volume fell by 37%, showing less activity from traders.
This drop might be due to the sell-off and ongoing price changes.
Technical analysis shows UNI looks bearish as it is below the key support level of $8.
If UNI doesn’t rise above $8, it might drop by 25% to around $5.50 soon.
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