UNI down -9.3% but sitting right on $4.00 support. Capitulation or opportunity? ๐ค
Uniswap at $4.11 took a hit, but zoom out: the daily trend is still UP. Price remains above the 25-day SMA ($3.73) and 99-day SMA ($3.29). Today's drop came on 1.47x normal volume โ heavy but not panic-level.
๐ Key Levels:
โข Support: $4.00 (psychological) โ $3.73 (25D SMA)
โข Resistance: $4.60 (recent high) โ $5.00 (round number)
โข Daily RSI at 61.7 โ still bullish territory despite the drop
โข DeFi sector weakness is the headwind, not UNI-specific
๐ฏ Trade Plan:
โ WAIT for $4.00 to hold or break
โ If bullish reversal at $4: Entry $4.00-$4.20 | SL $3.80 | TP $4.60 โ $5.00
โ Risk/Reward: 1.7x
โ ๏ธ If $4.00 breaks on volume, next stop is $3.73. Don't catch a falling knife.
Is $4.00 the line in the sand for UNI? ๐
#UNI #Uniswap #DeFi #Trading
โ ๏ธ Not financial advice. DYOR. DeFi tokens carry additional smart contract risk.