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- Whale firm Cumberland sold $16.73M worth of UNI tokens, sparking investor fears.
- UNI is near a critical support level of $15.30; its future remains uncertain.
- Long-term investors still holding could prevent further price declines amid market fears.
Uniswap (UNI) is facing tough challenges. Whale interest is fading, and market fears are rising. A massive sell-off by a major trading firm has added to investor worries. Could this lead UNI into a sharp price crash? Market trends suggest uncertainty as prices struggle.
đ Uniswap (UNI) rocked by $16.73M whale sell-off! Investors are on edge as UNI tests key support levels. What's next for the altcoin? #Uniswap #Crypto
â cryptoknowmics (@ckmnewsfeed) December 10, 2024
Read More: https://t.co/aVlqgZJtmn
Whale Dumps Send Shockwaves
Lookonchain reported a huge transaction on December 10. Cumberland, a well-known trading firm, sold 989,520 UNI tokens. These tokens were worth $16.73 million and moved across Binance, Coinbase, OKX, and Robinhood. This sale coincided with a 10% price drop.Cumberland has also started shifting assets to exchanges as prices decline. Such moves have investors on edge.
At press time, UNI was trading at $15.65, marking an 11% drop in the last 24 hours. Analysis of Coinglass data shows other whales are doing the same. Investors are pulling funds toward exchanges. This could signal more sell-offs ahead. However, recent data shows inflows are lower than outflows. Long-term investors are still holding strong. Their support could prevent further declines.
Critical Support Levels to Watch
UNI recently hit a key support level at $15.30. This price will decide whether the token can recover or sink further. Two possible outcomes are shaping up.If UNI stays above $15.50, it could rally by 30% to reach $20.50.
On the other hand, if UNI closes below $14.60, a 20% drop could follow. That would bring the price down to $11.10.These next few days will be pivotal. Traders and investors need to watch these support levels closely.
Market moves and whale activity will determine what comes next for UNI.Uniswapâs path forward depends on investor action and market sentiment. Will fear push prices lower, or will support hold steady?