đ„ What are some reasons behind $UNI âs surge right now? The DeFi + Layer 1 narrative.
The market is strongly rotating around the DeFi and Layer 1 narrative, which explains part of the momentum weâre seeing in several coins within these sectors.
$UNI is a clear example đ
The coin broke out of a bearish price pattern and pushed hard upward, but itâs now approaching an important resistance zone between $10.0 and $10.5.
So, despite the strength of the move, I donât think chasing the price here is the idea.
đ We have a clear resistance area ahead: either a breakout and consolidation above it, or a rejection followed by a correction before another attempt.
Meanwhile, continued strength in the DeFi + Layer 1 narrative could keep attention on these sectors over the coming period.
Watch the narrative⊠then watch the price levels.
The market is strongly rotating around the DeFi and Layer 1 narrative, which explains part of the momentum weâre seeing in several coins within these sectors.
$UNI is a clear example đ
The coin broke out of a bearish price pattern and pushed hard upward, but itâs now approaching an important resistance zone between $10.0 and $10.5.
So, despite the strength of the move, I donât think chasing the price here is the idea.
đ We have a clear resistance area ahead: either a breakout and consolidation above it, or a rejection followed by a correction before another attempt.
Meanwhile, continued strength in the DeFi + Layer 1 narrative could keep attention on these sectors over the coming period.
Watch the narrative⊠then watch the price levels.
