‘Legendary’ Uniswap (UNI) Whale Returns After 3 Years, Scoops Up Nearly $4M in UNI Tokens

• A legendary Uniswap (UNI) whale, dormant for three years, just bought $3.97M in UNI, reports @ai_9684xtpa.
• This same whale previously made $21.54 million from two strategic UNI trades; UNI price jumped 10% on this news.
• UNI technical analysis now shows a bullish MACD crossover, with key Fibonacci targets pointing above $10 for the token.

One of Uniswap’s (UNI) most legendary whales has re-entered the game after three long years of dormancy, and their first big move is already making waves. Blockchain sleuth @ai_9684xtpa reported that this whale, who previously cashed out a cool $21.54 million in profits from two strategically timed waves of UNI trading, has just opened a new $3.97 million position. The whale reportedly acquired 662,606 UNI tokens at an average price of $5.99. 

This whale’s re-emergence is particularly noteworthy given their past track record. They first bought UNI way back at $3.87 in 2020 and then expertly sold it near the all-time high of $42.88 in 2021, pocketing a massive $17.6 million profit. A second successful trading attempt in the $26–$11 price range later netted them an additional $3.95 million profit. 

UNI Price Jumps 10% as Whale Activity, Bullish Technicals Align

Coinciding with this whale’s activity, UNI itself is showing fresh strength, already up more than 10% in the past 24 hours to $6.55 at press time. This means the whale’s new address is already sitting on a floating profit of over $370,000—barely a ripple compared to his past spot market haul.

Related: Top 10 Cryptocurrencies by Whale Transaction Growth This Week: Santiment

On the technical side, Uniswap shows signs of quiet bullish strength with the Accumulation/Distribution indicator curving back upward after weeks of sideways movement, suggesting fresh accumulation–possibly from institutions or informed traders who’ve noticed the whale’s return.

The MACD Indicator shows that the MACD line (blue) is crossing above the signal line (orange), indicating a bullish momentum shift. Although the histogram is still near zero, the crossover suggests further upside potential in the short term.

Fibonacci Levels Point to Potential UNI Targets Above $10

Zooming out, the Fibonacci retracement and extension levels mapped from the swing low at $5.70 to the recent swing high at $8.70 provide critical levels for both bull and bear scenarios.

Related: Uniswap Surpasses $3 Trillion in Total Trading Volume, Leading the DEX Market

A sustained move above the 0.382 Fib level ($6.84) and 0.5 Fib ($7.28) could open the door to 0.786 level at $8.05, 1.618 Fib extension at $10.55, and long-term targets of $13.54, $16.54, and even $18.39 if full bullish momentum returns like in 2021.