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Uniswap [$UNI] remains under pressure due to its recent price decline.
Factors that appear to strengthen $UNI’s bearish outlook include negative derivatives data, which suggests that investors and traders are expecting the price to move lower.
At press time, $UNI was trading at $3.44, down 7.50% over the past 24 hours. Despite the price dip, market participants have shown strong interest in the asset, as evidenced by trading volume, which surged over 61% to $239.90 million.
Uniswap price eyes $3.00 level
According to the daily chart, $UNI is testing a key support of an ascending trendline that it had been holding since the 12th of April 2026.
Based on the current price action, if $UNI loses this trendline support, there is a strong possibility that the asset could witness a further price dip and may reach the $3.00 level in the coming days. However, this bearish thesis could be invalidated if the price recovers.
$UNI traders and investors turn bearish
While exploring the derivatives market, it appears that both investors and traders are following the broader market trend.
Data from the $UNI OI-Weighted Funding Rate has turned negative and reached -0.0061% as of writing, indicating growing bearish sentiment among traders. Meanwhile, $UNI’s Long/Short Ratio fell to 0.7886, indicating that traders were favoring short positions over long positions, further reflecting bearish sentiment in the market.
In addition, long-term investors appear to be moving their holdings to exchanges. Data from $UNI spot inflow/outflow reveals that over the past 24 hours, $302K worth of $UNI tokens has been transferred to exchanges, potentially suggesting that investors are preparing for a sell-off, which is considered a bearish signal.
However, the top 100 wallet addresses appear to have a different outlook. Analytics platform Nansen discloses that over the past 24 hours, the top 100 addresses have increased their holdings by 3.41%, indicating potential accumulation by crypto whales.
During the same period, Exchange Reserves fell 11.18%, indicating that investors and long‑term holders, including the top 100 addresses, withdrew $UNI tokens from exchanges over the past week.
Final Summary
- Uniswap appears poised for a further price dip and may reach the $3.00 level after losing both horizontal and trendline support.
- Both investors and traders have turned bearish, with some offloading their holdings while others are betting on the price to move lower.