🚨 CRITICAL $UNI ALERT: Whale Sell-Off Signals Potential Price Crash – Is $11.10 Incoming? 🚨
Uniswap’s native token, UNI, is under immense pressure following a significant whale sell-off, raising fears of a steep price drop. Whale tracker Lookonchain reported that professional trading firm Cumberland dumped a staggering 989,520 UNI tokens worth $16.73 million across major exchanges, including Binance, Coinbase, OKX, and Robinhood.
Key Developments
• Price Under Fire: UNI’s price has already plunged 11% in the past 24 hours, trading around $15.65.
• Bearish Outlook: Analysts warn UNI could drop an additional 20%, hitting $11.10, if it closes below the critical $14.60 level.
Market Dynamics
• Inflow Signals Trouble: Exchanges recorded $3.5 million in UNI inflows, a potential indicator of a sell-off. Inflows often signal traders preparing to liquidate assets.
• Broader Sentiment: The overall crypto market is undergoing a correction phase, further dampening investor confidence.
Possible Reprieve for UNI
Interestingly, Coinglass data reveals that the outflows from exchanges outweigh inflows, hinting that long-term holders may still back UNI. This suggests that while the immediate outlook remains bearish, strong long-term support could slow down or prevent further declines.
What’s Next for UNI?
⚠️ Downside Risk: If UNI fails to maintain above $14.60, expect a rapid decline toward $11.10.
💡 Supportive Long-Term Holders: Whale movements and market sentiment indicate mixed signals, but long-term holders could offer stability.
Trader’s Note: Stay cautious as volatility remains high. Monitor the $14.60 level closely, as it will determine whether UNI faces further collapse or stabilizes for a potential rebound.