- Whale stevu.eth deposited 200K UNI to OKX, resulting in $2.46 million profit.
- UNI experienced a minor setback with a 1.20% price decline.
- UNI shows resilience with gains against BTC and ETH, and consistent positive growth.
Earlier today, the on-chain analytics platform Lookonchain reported a prominent whale in the crypto space, stevu.eth, deposited 200K Uniswap (UNI) to the renowned cryptocurrency exchange OKX to capitalize on their investment. This notable individual, who holds a significant amount of UNI, withdrew 500,545 UNI from OKX on Saturday, when the altcoin was valued at $4.92, resulting in a substantial profit of approximately $2.46 million.
According to Lookonchain, the recent transaction made by the whale resulted in an approximate profit of $764K, considering the prevailing UNI price. It is important to note that this particular whale still possesses over 300K UNI, valued at approximately $1.94 million.
Regarding recent developments, CoinMarketCap reports a minor setback for UNI, as its price witnessed a 1.20% decline during the previous trading day. Consequently, the current value of UNI stands at $6.44 as of this update.
Despite experiencing a slight decline, UNI exhibited resilience. It demonstrated its strength against Bitcoin (BTC) and Ethereum (ETH) with gains of approximately 0.22% and 0.53%, respectively. Furthermore, UNI’s performance throughout the previous week has remained consistently positive, boasting a notable growth of 12.55%.
From a technical perspective, UNI is currently trying to surpass the resistance level of $6.680. Suppose it successfully breaches this level and concludes today’s trading session above it. In that case, it will pave the way for a significant upward movement towards the next major resistance level of $7.50 in the upcoming week.
Suppose UNI fails to surpass the $6.680 mark and maintains a daily candle close above it within the next 48 hours. In that case, a corrective movement may occur, leading to a potential decline in the altcoin’s value to around $6.050. If a significant amount of selling pressure emerges during this period, UNI could drop below $6.050 and reach $5.80 in the subsequent days.
It is important to highlight that the current market conditions indicate a favorable momentum for bullish investors in the short-term and medium-term. The 9-day Exponential Moving Average (EMA) line is positioned optimistically above the 20-day EMA line, indicating a positive trend. Additionally, these technical indicators are positioned above the 50-day EMA line, further confirming a positive medium-term trend for UNI.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
