Uniswap Whale Buys $1.5M Worth of UNI at $9.39 Amid Price Volatility
Uniswap's price has been on an upward trend despite some volatility in recent days. A significant purchase by a large investor, known as whale 0xd42B, is likely contributing to this momentum.
The whale spent $1.5 million USDC on 159,698 UNI tokens at the price of $9.39 per token in one transaction. This transaction occurred after Uniswap's token value declined.
According to technical analysis, the current price of $9.33 is above the EMA50 support at $8.57 and well clear of the EMA200 at $6.53, maintaining a bullish trend structure. However, the MACD registers a death cross at 0.29, which could be a cause for caution.
The Relative Strength Index (RSI) is currently neutral at 53.25, leaving room before momentum turns stretched. The Bollinger Bands also place the upper resistance target at $10.46 in play for any continuation.