UNI Jumps 16% As Whales Buy In: Is $10 On The Horizon?

Key Insights:

• Whales bought $1.56M in UNI, $1M in ONDO, and $680.7K in AAVE.
• UNI rises 16% in the last 24 hours, with recent price action showing a BOS followed by a CHOCH.

Uniswap (UNI) posted a strong performance in the crypto markets with a 16% gain in the past 24 hours. According to CoinMarketCap data, this led to a charge among DeFi tokens. However, daily trading volume was down by about 13% presenting a dilemma for the altcoin.

UNI Price Gains: Is this a Glimpse of the Future?

UNI price saw a break of structure (BOS) at around $7. This signaled a reversal in the direction of the trend. After the BOS, there were several Change of Character (CHOCH) points at around $6.50 and around $6.

That way, Uniswap was most likely in a retracement period, not a bullish continuation. However, the healthy recovery at $6.942 indicated that bulls could be recovering.

It could trigger further upside if UNI breaks past the $7.50 resistance zone. This level had previously acted as a strong demand region. Moving beyond it may push UNI toward the $8.50 mark, where a significant bullish order block (BOS) was seen.

An upper body hold above $8.50 would open the $9 upper range retest, thus creating a higher leg. If UNI fails to hold above $6.942, it could drop further.

The next key level to watch is $6, where a previous change of character (CHOCH) occurred. A decline below $6 may spoil the bullish case.

This could reduce the price to the accumulation lows witnessed earlier in June. The significant levels to track were $6, $7.50, and $8.50.

Whale Accumulating UNI, AAVE

Meanwhile, the heat map proved that whales were paying more attention to UNI, even closer to $6.90 and $7.20. This was comparable to the $1.56M accumulation of whales within the last 24 hours.

It has surpassed ONDO and AAVE with $1M and $680.7K, respectively. Such whale acquisition trends supported signs of liquidity pressure in liquidation on the upper bands.

UNI was building up in the low range at $7.20. There, liquidation pockets point toward a breakout should the whale demand persist.

UNI shows stronger liquidity compression and clearer whale absorption zones than assets like ONDO and AAVE. This suggests larger investors are more confident in UNI’s current price action.

Smart DEX Traders and Smart Money focused on smaller assets like MOG, SPX, TAO, and PEPE. This shows that retail and speculative traders were drawn to high-risk plays.

These assets reflect a more impulsive or opportunistic approach. In contrast, larger players concentrated on Uniswap. That suggests a preference for strength and relative safety. If broader market sentiment shifts, UNI could experience an upside-down shakeout.

Uniswap’s Liquidation Levels

The UNI liquidation heatmap showed regionalized liquidity areas at $7.20, $7, and $6.60. These levels were where large shares of highly leveraged positions could be resting. Thus, these levels could be target points of possible liquidity hunts.

A move toward the $7.20 level could trigger a wave of short liquidations. This might fuel a powerful upward surge as bullish momentum takes over. This would conform with the fact that the price reacts severely around this band.

On the negative side, another liquidity thick band is around $6.60, and one more is around $6.40 on the heatmap. In the case of downward price movement, these zones may attract sell-side liquidations. This may increase the pace of bearishness.

The price hovered near $7 with moderate liquidity. This setup suggested potential for a directional breakout. If the price moves above $7.20, momentum traders might jump in.

That could trigger short sellers to exit rapidly. But a drop below $6.60 could spark a wave of long liquidations.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.