Take off! UNI’s surge this round is crazy explosive—straight up to the 9.499 peak. But after topping out, the funds clearly cashed out, and now it’s pulled back to 8.747. In the past 24 hours, it’s down more than 4 percentage points. The candlestick also printed a very long upper wick, which is a classic “rally meets resistance” pattern.
On the macro side, discussions abroad around regulation of DeFi protocols have been heating up. Many regions are focusing on DEX trading compliance issues, and policy expectations are likely to weigh on the valuation of tokens like UNI for decentralized exchanges. From the chart, after a quick rally in the short term, trading volume can’t keep up anymore—bullish momentum is essentially overextended.
For short-term trading, the outlook is bearish. You can short on a rebound around 9.0. Set your stop-loss above the high at 9.5. The first target is the 7-day moving average near 7.67.
There is heavy sell pressure at high levels, and this upswing most likely is entering a pullback phase. $UNI
On the macro side, discussions abroad around regulation of DeFi protocols have been heating up. Many regions are focusing on DEX trading compliance issues, and policy expectations are likely to weigh on the valuation of tokens like UNI for decentralized exchanges. From the chart, after a quick rally in the short term, trading volume can’t keep up anymore—bullish momentum is essentially overextended.
For short-term trading, the outlook is bearish. You can short on a rebound around 9.0. Set your stop-loss above the high at 9.5. The first target is the 7-day moving average near 7.67.
There is heavy sell pressure at high levels, and this upswing most likely is entering a pullback phase. $UNI
