UNI, the token powering the Uniswap decentralized exchange, slid 5.6% in the past 24 hours. But beneath the red candle, something else is happening: whale addresses are quietly adding to their bags.
Whales buy the dip
On-chain data shows accumulation from large holders has actually picked up during the sell-off. The behavior suggests that at least some deep-pocketed traders see the current price as a discount, even as short-term sentiment turns bearish. It's a pattern that often precedes a reversal — though not always.
The buying pressure from whales hasn't been enough to stop the slide so far. UNI is trading near $3.50, down from levels above $3.70 just a day ago. The move comes amid a broader pullback in decentralized finance tokens, but UNI's drop is steeper than many of its peers.
Smart money leans long
Data from tracking platforms shows that 70% of so-called smart money positions on UNI are long. That means most professional or well-capitalized traders are betting the token will recover. The lopsided positioning adds weight to the whale accumulation signal, though it also raises the risk of a squeeze if the price keeps falling.
If those long positions get liquidated, the selling could accelerate. For now, the smart money is holding, and the accumulation suggests they're adding exposure rather than fleeing.
Two paths ahead
Technical analysis points to a potential reclaim of the $4.20 level within the next 10 days. That would require a roughly 20% rally from current prices — a big move, but not unheard of in crypto. The $4.20 level has acted as both support and resistance in the past, making it a key target for bulls.
On the other hand, if the selling pressure continues, UNI could slide to the $2.98 support zone. That would represent another 15% drop and would test the lows seen earlier this year. The $2.98 area has held multiple times, but a break below could open the door to deeper losses.
Which path UNI takes likely depends on whether whale accumulation can absorb the selling or if broader market conditions drag it lower. Traders will be watching the $3.30 to $3.40 range as an intermediate level — a breakdown there would make the $2.98 scenario more likely.
