Uniswap Whale Unloads 429K Tokens for $320K Profit
A significant Uniswap whale has made a substantial profit by selling a large batch of UNI tokens on-chain. The whale dumped 429,000 UNI for 929.3 ETH worth $1.75 million, netting a profit of $320,000 after purchasing the tokens at an average price of $3.34 during June and July.
The sale took place as UNI rebounded from its low of $2.4 to reach $4.4, with the whale converting their holdings into ETH via OKX liquidity. This move suggests that the whale is looking to take profits on their investment before UNI continues its upward trajectory.
From a technical analysis perspective, the price action on the 4h chart shows UNI trading at $4.03 inside the Bollinger Bands with upper resistance at $4.19 and lower support at $3.74. The EMA50 at $4.0 acts as immediate support, while the EMA200 at $3.69 anchors the longer-term bullish structure.
The MACD golden cross combined with a neutral RSI of 51.14 suggests that UNI is likely to continue towards the upper band before experiencing a healthy pullback to the 50-EMA.