$UNI Price Cools Off as Market Reacts to Major UNI Token Transactions - CoinGape Analytics

Uniswap price has recently declined following a period of gains, reflecting increased market volatility and broader correction trends. Over the past day, many cryptocurrencies, including UNI, have shown minor decreases with sideways trading patterns, indicating a market correction.

A major wallet, address 0x_b1, significantly impacted UNI’s market. The wallet withdrew 950,000 UNI from YieldWars, sold 902,500 UNI for approximately $6.14 million through FalconX, and distributed the funds across multiple addresses. Such large transactions can increase market volatility and potentially push the UNI price downward.

Currently, Uniswap's price is down 4.01% to $6.43, trading between $6.40 and $6.72. Technical indicators show a bearish crossover in the MACD, suggesting rising selling pressure. Resistance is at $7, with potential for a rise to $8 or $10 if bullish momentum continues. A key support level is at $6.30, which may stabilize the price if bearish trends persist.