Uniswap [UNI] broke through the $6 resistance level and reached an eight-month high of $6.37, gaining 11.35% over 24 hours. At the time of reporting, UNI traded near $6.20 as trading volume surged 153% alongside the price movement.
The rally was fueled by substantial activity from both whales and institutional entities. According to on-chain data, the cryptocurrency market maker Wintermute moved 2.03 million UNI valued at $11.07 million into its primary wallet, while routing an additional $4.64 million worth of UNI to Binance deposit lines. Top tracked wallets collectively moved approximately $45 million in UNI into active market circulation.
Whale activity also intensified the buying pressure. A tracked whale purchased 540,000 UNI worth $2.8 million just before the price crossed the $6 mark, following an earlier purchase of 394,000 UNI worth $1.71 million. The wallet holds nearly $37 million in total digital assets.
Profit-Taking Concerns Emerge
Despite the bullish momentum, rising exchange inflows present a potential headwind. According to CoinGlass data, Spot Netflow—a metric tracking UNI moving into exchanges—remained positive for two consecutive days, climbing to $11.2 million on September 1st before easing to $8.6 million. This represented the highest comparable levels since December 2025. Positive Spot Netflow typically indicates more selling pressure as deposits increase available supply on exchanges.
Technical Indicators Show Mixed Signals
Technical analysis presents divergent perspectives. The momentum indicator has remained positive and rising for 12 consecutive days, suggesting sustained buyer control. The Relative Vigor Index formed a bullish crossover, reaching 0.3 and reinforcing the upward pressure.
However, profit-taking activity remains strong, introducing pullback risk. Traders are watching whether UNI can hold above the $6 level, with the $5.4 mark identified as a key support level if selling pressure intensifies.
