Institutional Dump Drives UNI Below Key Support as Volatility Surges
Uniswap’s native token UNI is under heavy bearish pressure as large-scale exchange deposits signal institutional exit, breaking through vital technical support levels in the process.
After multiple failed attempts to break resistance at $6.78, the token faced accelerated selloffs triggered by sizable transfers to centralized exchanges. According to on-chain data, two major wallets moved a combined 11.65 million UNI (worth $82.38 million) to Coinbase Prime—an ominous sign for short-term holders.
Market Breakdown Overview:
- UNI dropped from $6.658 to $6.286 in 24 hours, registering a 5.6% daily decline.
- A strong rejection at $6.780 set the stage for a downtrend, with high-volume resistance established at midnight (2.02M tokens traded).
- Intense sell-offs were recorded between 05:00 and 07:00 and again at 10:00, the latter peaking at 2.43M in volume.
- The breach of the $6.30 support zone opened the door for further declines, with total intraday range reaching 8.12%.
- A steep drop between 13:33 and 13:48 led to a session low of $6.239 before a brief recovery lifted UNI back to $6.304.
- The 13:48 candle saw the highest hourly volume at 116.4K tokens, confirming sustained sell pressure.
While UNI remains up 20% over the past month, this latest bout of volatility is a stark reminder of how quickly sentiment can turn—particularly when whales begin to rotate out of their positions. The path forward hinges on whether buyers step in to defend the $6.30 region or if another breakdown is on the horizon.
