UNI’s Large Transactions Surge

• UNI’s large transactions have surged by 44% over the last 24 hours, reflecting growing confidence among high-net-worth investors.
• The altcoin’s price is maintaining a key trendline support that could lead to a rally towards $10 if bullish momentum holds strong.

Uniswap (UNI) is at a critical juncture. The decentralized exchange token is nearing a significant trendline support after a 10% price decline visible on the daily chart.

With increased whale activity and diminishing selling pressure, anticipation is building within the crypto community. Will this support level serve as a launchpad for UNI to reclaim $10 and beyond?

UNI Whales Make Moves; Retail Activity Shrinks

Recent on-chain activity presents a compelling picture of UNI market dynamics.

As of now, the total number of coins transferred to exchanges has declined by 74.73% in the past 24 hours, indicating a sharp drop in retail activity.

However, the decrease in retail transactions is being offset by a 44% increase in large-volume transactions, suggesting that whales are positioning themselves for potential gains.

The uptick in whale activity often precedes significant price shifts. As high-net-worth investors accumulate UNI near critical support levels, their actions signal confidence in a possible reversal.

Additionally, the reduced selling pressure enhances optimism. With fewer sellers active in the market, buyers have a favorable environment to assert control.

Make-or-Break Moment for Uniswap

All market participants are closely observing UNI’s trendline support, a crucial level that has historically prompted price recoveries. If the altcoin maintains this level, it could trigger buying activity that pushes UNI towards the psychologically important $10 mark.

Conversely, if it breaks this resistance, it may unlock further opportunities for gains.