The cryptocurrency market has been experiencing fluctuations lately, and Uniswap (UNI), the native cryptocurrency of the popular decentralized exchange, is no exception. As of Friday’s U.S. market hours, UNI saw a slight dip of 0.69%, closing at $5.3. This decline comes amidst broader market uncertainty, but there are signals that could indicate a shift in trajectory for Uniswap in the near to mid-term.
Whales Continue Accumulating UNI Amidst Price Pressure
Despite its underperformance compared to broader market recovery in early 2026, Uniswap has shown resilience. Over the past two weeks, its price fell from $6.43 to $5.3, marking a 17.4% drop. However, data reveals that the top 100 UNI holders—known for their market influence—have added 12.41 million tokens to their holdings over the last eight weeks. This accumulation reflects increased confidence among whales, even as smaller market participants remain cautious.
Currently, Uniswap’s circulating supply sits at approximately 630 million, making these large holders significant players in determining price direction. This divergence between retail sentiment and whale activity could set the stage for a potential trend reversal.
Key Support Levels to Watch
Uniswap’s price has been oscillating within a tight range of $6.43 to $4.83 for the past two months. The repeated failure to break through the upper resistance indicates buyer hesitation, while strong support at the $5 mark suggests potential consolidation.
Since mid-2023, an ascending trendline has provided crucial support, serving as a zone where buyers typically renew bullish momentum. UNI’s current price of $5.3 is just 6.5% away from retesting this trendline. A sustained break above this level could see prices revisiting $6.3. Conversely, a bearish breakdown could initiate further downside, with the next major support zone lying below $4.
Technical Indicators Reveal Market Sentiment
The broader market sentiment for Uniswap remains bearish, with the 20, 50, 100, and 200-day exponential moving averages sloping downward. However, on-chain analytics indicate renewed buying interest from whales, potentially offsetting near-term bearish pressure.
Traders looking to capitalize on this market dynamic should monitor reversal signals around key support zones. If buying pressure continues at the $5 mark, Uniswap may stage a recovery that aligns with broader cryptocurrency trends.
Market Outlook: How Bitcoin Could Impact UNI
Market analysts highlight that Uniswap’s performance remains closely tied to Bitcoin. Any sustained recovery in Bitcoin prices could positively influence correlated altcoins like UNI. Investors should watch Bitcoin’s movement closely, as it could serve as a leading indicator for Uniswap’s next breakout.
For those interested in diversifying their cryptocurrency holdings, products like the Ledger Nano X hardware wallet can provide a secure way to store digital assets such as UNI, Bitcoin, and Ethereum. Protecting your investments with reliable storage solutions is crucial in today’s volatile market.
Conclusion
While Uniswap has faced recent headwinds, the active accumulation by whales and strong support at $5 suggest potential for recovery. Market participants should watch for key technical and on-chain signals as UNI attempts to regain momentum. With Bitcoin’s performance likely to play a pivotal role, the coming weeks could prove decisive for Uniswap’s trajectory.
