Uniswap (UNI) Totters on the Brink of a Do-or-Die Scenario: Can Whales Save the Day?

Uniswap [UNI] is stumbling on the edge of a make-or-break scenario. The decentralized exchange token is rapidly closing in on a very significant trendline support level after a 10% price decline as seen on the daily chart.

Uniswap [UNI] encountered a ‘make-or-break’ scenario as the decentralized exchange token rapidly approached a crucial trendline support level following a 10% price decline, as observed on the daily chart.

With whale activity increasing and selling pressure easing, the crypto community anticipated a significant development. Could this support level serve as a launchpad for UNI to a price rally?

UNI whales activity increases as retail activity declinesThe recent on-chain activity painted an interesting picture of market sentiment toward UNI.

At the time of writing, the total coins transferred to exchanges had shrunk by 74.73% over the last 24 hours, indicating a drastic decline in retail activity.

However, this decline was being slowly offset by a 44% surge in large volume transactions—a clear indication of the whales preparing to take long positions soon.

Usually, large-volume transactions indicate significant price action. As high-net-worth investors were observed accumulating UNI near key support levels, their actions suggested a belief in a potential reversal.

Meanwhile, the reduction in selling pressure further added to the optimism. With fewer sellers in the market, the environment was favorable for buyers to gain control.

Make-or-break moment for UniswapAll eyes were now on UNI’s trendline support, a key level that had historically triggered price recoveries. If the altcoin were to hold this level, it could spark buying activity, propelling UNI toward the psychologically significant $10 mark.

However, breaking past this resistance could open the floodgates for further gains.