I’d been bullish on UNI when it was around 6, saying it was a good time to enter with spot. It’s now around 9, up roughly 50%. Recently, I’ve seen more people saying that this UNI rally is about to end and that the price will trend downward from here.
My view is exactly the opposite. Every time UNI pulls back, there’s enough buying support below to absorb the selling. Setting aside the earlier shakeout cycle, UNI futures are launching mid-month, and hedge funds will be allocating to spot UNI, which should bring in more buying. The fundamentals are also favorable in the long term, so the price should remain resilient.
In the short term, 12 will be a challenging level to reach, but it’s a useful reference point for a near-term target. In the long term, my first target price is around 32.
$UNI
My view is exactly the opposite. Every time UNI pulls back, there’s enough buying support below to absorb the selling. Setting aside the earlier shakeout cycle, UNI futures are launching mid-month, and hedge funds will be allocating to spot UNI, which should bring in more buying. The fundamentals are also favorable in the long term, so the price should remain resilient.
In the short term, 12 will be a challenging level to reach, but it’s a useful reference point for a near-term target. In the long term, my first target price is around 32.
$UNI
