Uniswap's native token UNI fell to session lows of $2.86 on Thursday, with trading data showing raw selling pressure across the order book. The drop extends a recent slide that has put the token within striking distance of a key support level at $2.77.
What the tape shows
Taker buy-sell volume—a measure of aggressive orders—skewed heavily toward sellers during the session, according to exchange data. That selling dominance has kept UNI pinned near the day's low, unable to stage any meaningful bounce.
But beneath the surface, some traders are watching for a reversal. Whale positioning data indicates that large holders have been accumulating during the dip, a pattern that often precedes a snap move higher. At the same time, the stochastic oscillator, a momentum indicator, has coiled below 40—a zone that historically signals oversold conditions and can trigger a sharp bounce.
The $2.77 line in the sand
Analysts tracking the token's price structure point to $2.77 as the critical support level. A break below that could open the door to further losses, but as long as UNI holds above it, the setup remains in place for a potential reversal.
“Whale positioning and a stochastic coiling below 40 suggest a snap reversal is quietly building,” one market participant noted on social media. The comment echoed a sentiment shared among some crypto traders who see the current price action as a classic squeeze setup.
What's at stake for UNI
UNI has been under pressure in recent weeks amid broader market weakness and selling in decentralized finance tokens. The token's market cap has slipped, and daily trading volumes have declined, making it more susceptible to sharp moves on relatively small order flow.
If the reversal materializes, a bounce back toward the $3.20-$3.40 range is possible, based on recent resistance levels. But if $2.77 fails, the next major support sits near $2.50, a level not tested since early 2024.
For now, the tape remains tilted toward sellers, but the building reversal signals mean traders are watching closely for any shift in momentum. The next few sessions will likely determine whether the coiled stochastic springs higher or unwinds further.
