Uniswap (UNI) remains under pressure due to its recent price decline.
Factors that appear to reinforce UNI’s bearish outlook include negative derivatives data, which suggests investors and traders are expecting prices to fall.
At press time, UNI was trading at $3.44, down 7.50% in the last 24 hours. Despite the drop in price, market participants showed keen interest in the asset, as evidenced by the trading volume, which jumped over 61% to $239.90 million.
Uniswap price targets $3.00 level
According to the daily chart, UNI is testing key support of an ascending trendline that it has held since April 12, 2026.
Based on the current price action, if UNI loses this trendline support, there is a strong possibility that the asset will experience a further price decline and 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
By exploring the derivatives market, it appears that investors and traders follow the broader market trend.
The UNI OI Weighted Funding Rate data turned negative and reached -0.0061% at the time of writing, indicating growing bearish sentiment among traders. Meanwhile, UNI’s long/short ratio fell to 0.7886, indicating that traders preferred short positions over long positions, further reflecting bearish market sentiment.
Additionally, long-term investors appear to be moving their holdings to the stock exchanges. UNI spot inflow/outflow data reveals that in the last 24 hours, $302,000 worth of UNI tokens moved to exchanges, potentially suggesting that investors are preparing for a sell-off, which is seen as a bearish signal.
However, the top 100 wallet addresses seem to have different perspectives. Analytics platform Nansen reveals that over the past 24 hours, the top 100 addresses increased their holdings by 3.41%, indicating potential accumulation by crypto whales.
During the same period, exchange reserves fell by 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 looks set to see another price decline and could reach the $3.00 level after losing the horizontal support and trendline.
- Investors and traders have turned bearish, with some dumping their holdings while others are betting on a decline in the price.
