Uniswap (UNI) reclaimed the $4.00 level for the first time since early May, driven by sustained institutional accumulation. A wallet linked to Cumberland accumulated $6.12 million worth of UNI before transferring the entire amount to a wallet associated with Monetalis, demonstrating persistent confidence among institutional players. The 90-day Spot Taker CVD remained buyer dominant, confirming that market orders favored accumulation over distribution. If UNI holds above $4.00, the former ceiling could transform into support, but losing this level would expose the price to a return toward $3.66, aligned with the ascending trendline. The concentration of short liquidations between $4.05 and $4.15 could trigger forced buybacks and amplify the upward movement.
Source: Read the original article
