You Won’t Believe What’s Lurking in Uniswap’s Price Chart! 🦈💰

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If you’ve ever wondered what it’s like to ride a financial roller coaster that’s equal parts Wild West and slightly malfunctioning theme park ride, you should take a good, hard look at Uniswap (UNI). I mean, the price rebounded handsomely in the last three months, which is exactly what you’d want from the thing you sunk your hopes, dreams, and maybe your lunch money into—and yet all the technical flibbertigibbets are flashing big, neon warning signs. It’s as if the chart itself is pausing to ask, “Are you sure about this?”

In classic cryptonian fashion, UNI ascended to $7.5485 on July 8, sprouting wings and soaring 67% from its April depths (also known as That Month We Don’t Talk About). With a market cap of $4.7 billion, one suspects somewhere, a tech bro just bought another lava lamp.

Now, on-chain data (which sounds daunting, but mostly means ‘let’s see who’s up to shenanigans’) reveals UNI’s supply on exchanges has exploded to 85.6 million, the highest since June 5—up from last month’s 82.1 million and eons away from this year’s low of 69.27 million. When you see more tokens piling up on exchanges, that’s usually code for “Warning: possible impending flood of sellers.” Basically, it’s the crypto version of everyone moving to the exits at the theatre when someone yells “Fire!”

But let’s throw in a little twist, shall we? Enter Unichain, Uniswap’s shiny new layer-2 network, which launched in March and is apparently doing its best impression of a caffeinated hamster on a wheel. In the past 24 hours alone, its protocols zipped through $366 million worth of transactions (sure, why not), contributing to a 30-day volume of $6.23 billion. It’s now the third-largest layer-2 DEX, which is code for “we’re really big now but don’t ask how it works at Thanksgiving.”

Unichain’s total value locked in DeFi has grown by 28% in 30 days to $1.17 billion—handily outmuscling poor Cardano (ADA), whose $350 million is starting to look like pocket change found at the bottom of the dryer.

Transactions on Unichain, too, are levitating: a 42% bump in June, which, in crypto terms, means it’s on enough caffeine to power a small village. Only digital villages, though. Wagons not included.

Oh, and just to pile on, so-called “whales”—those mysterious, possibly fictional creatures the crypto world loves to reference—have increased their UNI stash by 58% over 30 days, now hoarding 5.69 million UNI between their digital flippers. Meanwhile, public figures are up 1,162% in holdings, and the top 100 addresses are lording over 812 million UNI like dragons in a Tolkien novel. If you start seeing Game of Thrones memes about whales, you’ll know why.

Uniswap price chart analysis

As much as we all love an underdog story, the daily chart paints a portrait slightly less inspiring than a wilted houseplant. UNI has tumbled from its 2023 peak of $19.44 to a presentable but less stunning $7.53. It remains doggedly glued below the 23.6% Fibonacci retracement at $8.10. The Fibonacci what, you ask? Think of it as a cosmic ruler that traders use for reasons unknown to anyone with a social life.

The dreaded MACD indicator is flashing “bearish divergence.” In English: things may start to get ugly. Add a rising wedge pattern—a rather ominous formation beloved by pessimists everywhere—and you have a technical recipe for trouble complete with clanging bells and confetti cannons that only shoot Monopoly money.

If Uniswap breaks down (technically, not emotionally, although it’s crypto so who knows), we’re gazing at the next big support at $4.60—a heart-stopping, stomach-churning 40% below the current price. In other words, strap yourself in, grab the popcorn, and maybe keep a fainting couch nearby. 🛋️📉

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2025-07-08 21:47