This bullish candle from UNI has something to it. Over on Robinhood, the trading volume exploded, and the price was pushed straight above 5.2. From what I can see in the order book, there’s real buying support—not some fake pump that just wicks and runs.
According to my usual habit, at this position I’m not in a rush to chase. Let’s see if it can hold above 5.2 for two days. If it pulls back near 5.0 and people keep stepping in, that would indicate turnover is sufficient—then it would have the qualifications to move into a trend later. If tomorrow it gets smashed back down to 4.8, then today’s move is just a sentiment-driven trade; don’t let yourself get fooled into thinking it’s more than that.
Also, what CZ said is pretty on point: this year, in the industry, there really aren’t many solid new narratives. RWA and stablecoins are among the few directions that are actually seeing real implementation. UNI, as an old-school DeFi blue chip, is one of the names you can’t bypass if capital starts flowing back into this segment. Let’s first see how it closes.
What do you all think? Drop a couple of lines in the comments.
According to my usual habit, at this position I’m not in a rush to chase. Let’s see if it can hold above 5.2 for two days. If it pulls back near 5.0 and people keep stepping in, that would indicate turnover is sufficient—then it would have the qualifications to move into a trend later. If tomorrow it gets smashed back down to 4.8, then today’s move is just a sentiment-driven trade; don’t let yourself get fooled into thinking it’s more than that.
Also, what CZ said is pretty on point: this year, in the industry, there really aren’t many solid new narratives. RWA and stablecoins are among the few directions that are actually seeing real implementation. UNI, as an old-school DeFi blue chip, is one of the names you can’t bypass if capital starts flowing back into this segment. Let’s first see how it closes.
What do you all think? Drop a couple of lines in the comments.