$UNI is attempting a relief bounce after dropping to $6.496, with price recovering to $6.666 (+0.98%). However, the 15m trend remains bearish: price is still below MA(7) at $6.594? Correction: the screenshot shows MA(7) at $6.594, MA(25) at $6.742, and MA(99) at $6.920. The rebound has reclaimed the short MA, but resistance remains overhead and the sell-off came with a volume spike.
Bias: SHORT — if the rebound gets rejected
Entry: $6.70–$6.76 after bearish rejection
TP1: $6.60
TP2: $6.52
TP3: $6.45
SL: $6.83
Confirmation: A 15m candle rejects the $6.70–$6.76 zone and closes back below $6.66.
Invalidation: Price breaks and holds above $6.83, weakening the short setup.
The bounce alone does not confirm a trend reversal. Avoid chasing the short at the current price; wait for rejection near resistance.
Bias: SHORT — if the rebound gets rejected
Entry: $6.70–$6.76 after bearish rejection
TP1: $6.60
TP2: $6.52
TP3: $6.45
SL: $6.83
Confirmation: A 15m candle rejects the $6.70–$6.76 zone and closes back below $6.66.
Invalidation: Price breaks and holds above $6.83, weakening the short setup.
The bounce alone does not confirm a trend reversal. Avoid chasing the short at the current price; wait for rejection near resistance.