📈 UNI Breakout: Will Uniswap Hold the Support Level Amid Profit Taking?
Absolutely correct—the $9.70 mark is the key milestone right now. Due to a wave of profit-taking and the liquidation of long positions (longs) totaling $250k, UNI’s price over the past few hours has corrected from the peak of $10.84 and has locally dipped below the psychological $10 (to the $9.76–$9.88 area on Robinhood and Traders Union).
Analysts identify this level as a critical point for technical analysis.
Support Line $9.73 (50% Fibonacci): If UNI holds above the $9.70–$9.73 zone on a candle close, the upward impulse will remain intact, with the potential for a retest of $10.50 and a move toward $12.
Risk of a Downward Break: If the price consolidates below $9.70, the next strong support (61.8% Fibonacci) is at $9.48. Falling below it may push the asset back into a prolonged consolidation around the former breakout zone.
#UNI $UNI
Absolutely correct—the $9.70 mark is the key milestone right now. Due to a wave of profit-taking and the liquidation of long positions (longs) totaling $250k, UNI’s price over the past few hours has corrected from the peak of $10.84 and has locally dipped below the psychological $10 (to the $9.76–$9.88 area on Robinhood and Traders Union).
Analysts identify this level as a critical point for technical analysis.
Support Line $9.73 (50% Fibonacci): If UNI holds above the $9.70–$9.73 zone on a candle close, the upward impulse will remain intact, with the potential for a retest of $10.50 and a move toward $12.
Risk of a Downward Break: If the price consolidates below $9.70, the next strong support (61.8% Fibonacci) is at $9.48. Falling below it may push the asset back into a prolonged consolidation around the former breakout zone.
#UNI $UNI
