$UNI ’s price action today was expected and makes perfect sense.
The price is now hovering around $8.90, after testing the $9.10–$9.20 range several times.
A lot of people might look at this and say: “Here we are at resistance again. It can’t go any higher.”
But I’d rather ask: is this distribution, or is it building up strength?
Because if there were simply no buyers, shouldn’t UNI have already been tumbling all the way down?
But instead, it keeps hovering around $9. People buy the dips, and sell when it rises.
This kind of market is the most frustrating.
But it’s also when something can happen: once it breaks above around $9.18 on real volume, and clears the underwater holders and short-term selling pressure, the market could suddenly look very different.
There are also two dates coming up that are worth watching.
One is October 19, when CME plans to launch $UNI futures, pending regulatory approval.
The other is that OKX ICE has filed documents with the SEC related to a tokenized securities trading platform.
None of this looks particularly explosive right now.
But when the market really starts trading on these developments, it often begins with milestones that seem pretty unremarkable!
On top of that, Uniswap’s fee mechanism has started generating actual UNI burns, which is quite different from the old model of a token used purely for governance.
So when looking at UNI right now, the last thing you should worry about is it hovering around $9.
Instead, you should be worried that one day it suddenly breaks out on heavy volume and everyone rushes in asking:
“Why is $UNI suddenly at $10?
Is it still safe to chase it now?”
We’ve seen this kind of FOMO way too many times in crypto.
So keep a close eye on the area around $9.
That doesn’t mean it’s definitely going up right away, but if it really clears $9.18, I think it’s at least worth taking a serious look at how much upside there might be.
The most comfortable time to find an opportunity is often not after the breakout, but before it, when nobody has the patience to wait.
#UNI #Uniswap #DeFi #ETH #RWA
The price is now hovering around $8.90, after testing the $9.10–$9.20 range several times.
A lot of people might look at this and say: “Here we are at resistance again. It can’t go any higher.”
But I’d rather ask: is this distribution, or is it building up strength?
Because if there were simply no buyers, shouldn’t UNI have already been tumbling all the way down?
But instead, it keeps hovering around $9. People buy the dips, and sell when it rises.
This kind of market is the most frustrating.
But it’s also when something can happen: once it breaks above around $9.18 on real volume, and clears the underwater holders and short-term selling pressure, the market could suddenly look very different.
There are also two dates coming up that are worth watching.
One is October 19, when CME plans to launch $UNI futures, pending regulatory approval.
The other is that OKX ICE has filed documents with the SEC related to a tokenized securities trading platform.
None of this looks particularly explosive right now.
But when the market really starts trading on these developments, it often begins with milestones that seem pretty unremarkable!
On top of that, Uniswap’s fee mechanism has started generating actual UNI burns, which is quite different from the old model of a token used purely for governance.
So when looking at UNI right now, the last thing you should worry about is it hovering around $9.
Instead, you should be worried that one day it suddenly breaks out on heavy volume and everyone rushes in asking:
“Why is $UNI suddenly at $10?
Is it still safe to chase it now?”
We’ve seen this kind of FOMO way too many times in crypto.
So keep a close eye on the area around $9.
That doesn’t mean it’s definitely going up right away, but if it really clears $9.18, I think it’s at least worth taking a serious look at how much upside there might be.
The most comfortable time to find an opportunity is often not after the breakout, but before it, when nobody has the patience to wait.
#UNI #Uniswap #DeFi #ETH #RWA