Token

Uniswap

Convergence

YieldWars

Uniswap price recently experienced a downturn after a period of significant gains. The current market conditions suggest increasing volatility as bearish trends start to dominate. Over the last day, many cryptocurrencies have witnessed a minor decrease, with trading patterns showing sideways movement. This shift indicates a broader market correction. 
<h2 id="strong-uniswap-price-faces-whale-activity-amid-increased-market-volatility-strong">Uniswap Price Faces Whale Activity Amid Increased Market Volatility&nbsp;</h2> 
A cryptocurrency wallet with address 0x_b1 has made substantial moves with UNI tokens. According to Lookonchain, the wallet first deposited 950,000 $UNI into YieldWars nearly four years ago. Recently, the wallet withdrew the entire amount, totaling about $4.1 million.&nbsp; 
Following the withdrawal, it sold 902,500 $UNI, valued at approximately $6.14 million, through the FalconX platform. This sum was then distributed across multiple addresses. 
<blockquote class="twitter-tweet"> 
 A wallet related to <a rel="nofollow" href="https://twitter.com/0x_b1?ref_src=twsrc%5Etfw">@0x_b1</a> sold 902,500 <a rel="nofollow" href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>($6.14M) held for ~4 years through <a rel="nofollow" href="https://twitter.com/hashtag/FalconX?src=hash&amp;ref_src=twsrc%5Etfw">#FalconX</a> in the past 2 days. 
 This wallet deposited 950K <a rel="nofollow" href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>($4.1M) to <a rel="nofollow" href="https://twitter.com/hashtag/YieldWars?src=hash&amp;ref_src=twsrc%5Etfw">#YieldWars</a> 4 years ago and withdrew it 2 days ago. 
 Then transferred 902,500 <a rel="nofollow" href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>($6.14M) to <a rel="nofollow" href="https://twitter.com/hashtag/FalconX?src=hash&amp;ref_src=twsrc%5Etfw">#FalconX</a> through multiple… <a rel="nofollow" href="https://t.co/SGlNfazy3D">pic.twitter.com/SGlNfazy3D</a> 
 — Lookonchain (@lookonchain) <a rel="nofollow" href="https://twitter.com/lookonchain/status/1827887663623614704?ref_src=twsrc%5Etfw">August 26, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Such large transactions can significantly impact the market price of UNI tokens. If the tokens were sold on the open market, price volatility could result. The sale of $6.14 million in UNI could push the price downward. 
<h2 id="strong-uni-price-analysis-bearish-gains-control-amid-broader-market-correction-strong">UNI Price Analysis: Bearish Gains Control Amid Broader Market Correction</h2> 
Over the past 24 hours, the Uniswap price has declined 4.01%. The altcoin has been trading&nbsp;between $6.40 and $6.72, indicating increased volatility in the market.&nbsp; 
The bears have taken control after a market surge over the past few days following the broader market rebound. However, at the time of writing, the <a href="https://coingape.com/price/uniswap/">UNI price</a> is trading at $6.43, with a slight dip during the U.S. trading session. 
With the current market adjustments, the Uniswap price could pull back to a support level of $6.3 if bearish trends intensify. A more significant support level, established at $6.4, also provides further stabilization. 
The 4-hour technical indicators for Uniswap indicate a potential shift in market sentiment. The Moving Average Convergence Divergence (<a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a>) indicator reflects a bearish crossover. The MACD line (blue) crosses below the signal line (orange). This suggests increasing selling pressure, and the histogram also indicates a negative momentum build-up. 
<figure id="attachment_214165" aria-describedby="caption-attachment-214165" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-214165 size-full" src="https://coingape.com/wp-content/uploads/2024/08/UNIUSDT_2024-08-26_19-54-13.png" alt="Uniswap Price Cools Off as Market Reacts to Major UNI Token Transactions" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/08/UNIUSDT_2024-08-26_19-54-13.png 1154w, https://coingape.com/wp-content/uploads/2024/08/UNIUSDT_2024-08-26_19-54-13-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/08/UNIUSDT_2024-08-26_19-54-13-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/08/UNIUSDT_2024-08-26_19-54-13-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-214165" class="wp-caption-text">
 Uniswap Price Chart| Source: <a rel="nofollow" href="https://www.tradingview.com/x/YHvUm379/">TradingView</a>
 </figcaption>
</figure> 
The Uniswap price is presently facing a crucial resistance level at $7. A successful breakthrough at this level could pave the way for a rise to $8. In the event of sustained bullish momentum, the price might climb to $10 in the next uptrend. If the bullish 
The post <a href="https://coingape.com/markets/uniswap-price-cools-off-as-market-reacts-to-major-uni-token-transactions/">Uniswap Price Cools Off as Market Reacts to Major UNI Token Transactions</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Uniswap Price Cools Off as Market Reacts to Major UNI Token Transactions

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