CandleFocus Will Uniswap Price Delay $15 Breakout as Institutional Sales Surge?
2024-12-03
Author: Content Editor
Summary: The cryptocurrency market, including Bitcoin (BTC) and altcoins like UNI, experienced dampened volatility during the U.S. market session. UNI's price traded at $14.16 with a small gain, and its market cap stood at $8.4 billion with a 24-hour trading volume of $1.35 billion. Notably, Variant Fund, a prominent crypto venture capital firm, transferred 1.2322 million UNI tokens, worth $17.14 million, to Coinbase Prime. In the past 26 days, the firm has moved a total of 3.6966 million UNI tokens, averaging a transfer price of $12.05 per token. This transfer could potentially lead to downward pressure on the UNI token, with institutions showing a lack of belief in Uniwap's sustained uptrend. However, the Uniswap price has recently seen a rally, reaching $14.4 from $6.6, indicating a potential 18% jump to challenge the $17 resistance level, which could potentially trigger a bullish reversal pattern.
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