Uniswap recorded fresh whale accumulation activity despite a sharp price correction in recent days. A large holder purchased $2.35 million worth of UNI tokens across five consecutive days, maintaining demand pressure even as the token's price declined from $7.48 to $6.02.
The whale's buying activity contrasted with weakening price action, as sellers continued to counter incoming demand. However, several on-chain metrics suggested underlying support for the token.
Exchange Reserves and On-Chain Demand
UNI's exchange reserve USD dropped 11.88% to approximately $650 million within 24 hours, reducing the value of tokens held across tracked exchanges. The 90-day Spot Taker CVD remained buyer-dominant, indicating aggressive buying pressure on available sell orders.
These conditions diverged from the falling price, suggesting active demand despite the correction. Persistent exchange reserve declines could further reduce supply available on exchanges and potentially support recovery attempts.
Derivatives Positioning
Top traders on Binance maintained significant long exposure to UNI. Long positions represented 78.69% of their positioning compared to 21.31% for shorts, creating a Long/Short Ratio of 3.69. Traders sustained this imbalance throughout the recent pullback from the $7.48 high.
Heavy long exposure could support recovery attempts, though additional downside would increase liquidation risks for leveraged traders.
Technical Outlook
UNI entered a deeper correction after failing to extend its advance beyond $7.483. The token fell toward the $6.016 area, bringing key Fibonacci retracement levels into focus. The 0.382 retracement sits at $5.836, while the 0.5 retracement is at $5.328 on the daily timeframe.
The golden zone between $4.711 and $4.819 represents a key support area, with an FVG overlapping this region providing internal liquidity. A successful hold of this zone could strengthen recovery attempts toward $7.483, while losing the $4.711 level would weaken the technical outlook.
The RSI declined to 59.09 after reaching overbought territory, indicating cooling buying pressure. The price-RSI decline suggests the correction remains technically supported.
