Uniswap Price Forecast: UNI whale moves 9 million tokens to Coinbase Prime
Uniswap price hovers around $5.92 on Thursday after rallying 12.8% so far this week.According to Wu Blockchain, data shows the address transferred 9 million UNI to the Coinbase Prime Deposit on Thursday.Traders should exercise caution, as such transfers could trigger volatility in UNI.Uniswap (UNI) price hovers around $5.92 at the time of writing on Thursday, having rallied 12.8% so far this week. According to Wu Blockchain, data shows that the address potentially related to the Uniswap team, investor, or advisor transferred 9 million UNI to the Coinbase Prime Deposit on Thursday. Traders should exercise caution, as such transfers could trigger volatility in UNI.Uniswap whale wallet moves nearly $54 millionWu Blockchain’s X post on Thursday indicates that an address potentially associated with the Uniswap team, investor, or advisor transferred 9 million UNI worth $53.91 million to the Coinbase Prime Deposit on the same day. The address of the suspected Uniswap team/investor/advisor: 0x69…E38B transferred 9 million UNI to Coinbase Prime Deposit at 9:17 UTC+8 today, worth about 53.91 million US dollars. https://t.co/BlqeAwensd— Wu Blockchain (@WuBlockchain) April 24, 2025 According to CoinGecko data, this token transfer represents approximately 1.5% of the current circulating supply of 600 million. Uniswap chart. Source: CoinGeckoIf this move signals an intent to liquidate or stake UNI, as Coinbase Prime often facilitates large-scale trading or custody for institutions, it could trigger volatility in UNI and generally lead to a short-term correction in the Uniswap price. Therefore, traders should exercise caution regarding this move.Uniswap's technical outlook shows resistance around its 50-day EMAUniswap price retested and found support around its August 5 low of $4.70 on April 9, and it has recovered nearly 27% in the last two weeks. However, at the time of writing on Tuesday, it faces resistance around its 50-day Exponential Moving Average at around $6.28 and is declining slightly.If the 50-day EMA continues to hold as resistance, UNI could extend the decline to retest its next support level at $5.52. A successful close below this could extend an additional decline to test its August 5 low of $4.70.The Relative Strength Index (RSI) on the daily chart reads 53, just above its neutral level of 50, and points downwards, indicating a fading of bullish momentum. However, if the RSI slips below its neutral level, it suggests a rise in bearish momentum and a sharp decline in Uniswap price.UNI/USDT daily chartConversely, if UNI breaks and closes above its 50-day EMA at $6.28, it could extend the rally to retest its psychologically important level of $7. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.