UNI Price Plummets After Cumberland Moves 3.72M Tokens into Exchanges
UNI's price dropped significantly over the past 23 hours after Cumberland moved 3.72 million tokens worth $12.63 million into Binance, Coinbase, OKX, and Bybit.
The token slid from $3.59 to $3.22, with its price action on the 4-hour chart testing the lower Bollinger Band at $3.23. The Relative Strength Index (RSI) sits at 21.42, indicating deep oversold territory.
According to technical indicators, the EMA50 at $3.74 and EMA200 at $3.72 continue to act as firm resistance overhead. The MACD death cross at -0.15 keeps the broader structure bearish, suggesting that any potential bounce will likely stall at the $3.74 level before a further decline.
Institutional desks monitoring the flow are warning that the next leg lower is imminent, with Cumberland's move seen as a significant catalyst for this downward pressure.