Uniswap Price Soars Above Resistance Level Thanks to Institutional Buying

Institutional buying has propelled Uniswap's price above $4.56 for the first time since early May.

A major development was a wallet linked to Cumberland, one of the world's largest OTC crypto trading firms, which bought $6.12 million worth of UNI at the $4 resistance level and later transferred it to a wallet associated with Monetalis, an asset management firm.

This significant accumulation by institutional investors suggests that multiple entities are building UNI positions at the same resistance level and within the same time window.