$UNI has drastically recovered reasonable amount from it previous deep and this is influenced by the Uniswap's fee mechanism now routing protocol fees into a process that acquires and permanently burns UNI, creating a link between Uniswap usage and UNI supply reduction.
So now investors see this as; More Uniswap volume → more protocol fees → more UNI burned → lower supply.
ANALYSIS: Currently price is retracing into the most traded zone according to the price volume profile around $8.784.
BUY SETUP: Entry price 9.448
SL: 8.342
So now investors see this as; More Uniswap volume → more protocol fees → more UNI burned → lower supply.
ANALYSIS: Currently price is retracing into the most traded zone according to the price volume profile around $8.784.
BUY SETUP: Entry price 9.448
SL: 8.342