Uniswap Whale Scores $2M Profit on 788K Token Sale

A whale investor has made a significant profit on Uniswap (UNI) after selling their tokens at $8.85, according to data tracked by @lookonchain.

The whale bought 788,000 UNI for $4.93 million at $6.26 six days ago and sold them just under a week later, locking in a profit of $2.04 million.

This sale occurred as the price of UNI was rising, with the token currently trading at $10.43 within a bullish trend. The Exponential Moving Averages (EMAs) for 50 and 200 periods are acting as support, with prices testing the upper Bollinger resistance at $10.35.

The Relative Strength Index (RSI(14)) is at 71.09, indicating overbought conditions, while the MACD holds a bullish golden cross at 0.51. This suggests that there may be a healthy retracement toward the 50-EMA before continuation.