The momentum indicator RSI at 44% accentuates a neutral to bearish sentiment in the market.
UNI, the native cryptocurrency of the decentralized cryptocurrency exchange Uniswap, dips 0.69% during Friday’s U.S. market hours. While the downtick coincided with current market uncertainty, the Uniswap price showed sustainability above the $5 floor with a long-wick rejection tail. This buying pressure followed a renewed accumulation trend from large investors signalling a potential shift in near to mid term trend.
The Uniswap price has underperformed to the broader market recovery in the first two weeks of 2026. The coin price has plunged from $6.43 to $5.3 registering a loss of 17.4% and its market cap fell to $3.382 billion.
Uniswap’s perpetual futures contracts have had a relatively flat open interest profile in recent weeks that has settled around $400 million based on derivatives tracking platforms.
Over the last two weeks, this number has barely moved – between about $380 million and $420 million – without any significant change in direction. Smaller participants in the market have shown reluctance in the pullback with softer volumes at the spot and cautious positioning.
In contrast, on-chain analytics show that the top 100 UNI holders have steadily accumulated their positions, increasing the 12.41 million token holdings in the past eight weeks.
This group of people, which is often followed for its influence on price direction, controls a meaningful share of the asset’s approximately 630 million circulating supply. Past patterns have found these major addresses behavior has often preceded or coincided with larger changes in Uniswap’s valuation, which puts it among the top 40 cryptocurrencies by market cap.
This continual accumulation by large holders is in opposition to the recent price softness of the token creating an obvious divergence in holder conviction versus retail sentiment. Market observers are saying that any sustained movement in Bitcoin could drive bigger impacts to correlated altcoins such as UNI in the near term.
For the past two months, the Uniswap price has resonated in a short-range between $6.43 to $4.83. The coin price rejected several times from the overhead resistance suggests lack of initiation from buyers to drive higher recovery.
However, the consolidation trend is currently positioned at the key support zone of the ascending trendline. Since June 2023, this dynamic support has acted as a major accumulation zone for buyers to renew their bulls momentum for potential upswing.
Currently, the Uniswap price trades at $5.3 mark, holding just 6.5% away from retesting the bottom trendline. If the support holds, the coin price could witness a prolonged consolidation trend for coming months.
In case of bearish breakdown below the bottom trendline, the UNI price could witness an accelerated downtrend below $4
The downsloping trend of key daily exponential moving averages (20, 50, 100, and 200) signals that the broader market sentiment is bearish, reinforcing the potential breakdown.
On the contrary, the renewed buying pressure from whale could bolster Uniswap price to hold the $5 line. Market participants could wait for reversal signals at this support to confirm price rebound.
A potential reversal from this could push the UNI price back to $6.3 barrier.
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