Wintermute's $1M Move Sparks 6% Uniswap Price Surge

Uniswap's UNI price has surged nearly 6% after Wintermute, a prominent market maker, transferred over $1 million worth of tokens from its hot wallet to deposit addresses linked to major exchanges.

The move has reignited interest in the token, which is one of the largest DeFi tokens by trading volume. As the sector's sentiment improves and liquidity returns to decentralized finance, UNI has become a beneficiary of the shift.

A closer look at Uniswap's price structure reveals that it has broken above a descending trendline and reclaimed both its 20-day and 50-day exponential moving averages, indicating weakening selling pressure and buyers taking control.

The next challenge for UNI is to break through the $4.40-$4.80 resistance zone, which aligns closely with the 200-day EMA. A convincing daily close above this area would invalidate the lower-high structure that has defined UNI's decline since February and could trigger fresh momentum buying.

If UNI clears this barrier, its price may target the psychological $5 level, followed by the $5.50 region where a major supply zone is expected to emerge. However, failure to clear resistance could lead to another period of consolidation with $3.70-$3.80 providing support unless UNI falls back below its recent breakout trendline.