Uniswap Price Tests $4.00 Resistance Levels Amid Limited Buying Volume

Uniswap's price action has been gaining momentum as it approaches the $4.00 mark, testing resistance levels around $3.90-$4.05. According to TradingView, the price is posting higher highs and lows, indicating a potential trend reversal.

The 50-day Simple Moving Average (SMA) of Uniswap's price is rising towards its 200-day SMA, suggesting an increase in buying pressure. However, the Cumulative Volume Delta remains subdued, signaling limited buying volume.

A significant development was reported by CoinpediaOne, where a wallet purchased 155,900 UNIUSD through two trades: 105,200 UNI for 400,000 USDT and 50,700 UNI for 200,000 USDT. The total transaction amount was 600,000 USDT, with the current value of the purchase standing at 621,400 USDT.