$UNI fell from 9 yuan to 7 yuan in 5 days. The 4-hour candlestick at noon on October 8 crushed through with a trade volume of 208 million. It was pushed straight from 7.7 down to 7.1. With volume at this level and a sell-off like that, someone is truly running, not just testing.
UNI is Uniswap’s governance token, a long-established project in the DEX sector. After Uniswap v4 went live, there’s been plenty of discussion, but the token itself has always been lukewarm—neither hot nor cold. Whether the protocol is good is one thing; whether the coin price actually moves is another.
Market signals: Over the last 30 four-hour candlesticks, the price slid from 9.05 on October 4 all the way to 7.15—a drop of more than 21%. There were almost no meaningful rebounds in between. Every time there was a small pullback, sell pressure pushed it back down again. The latest candlestick’s volume is only 4.2 million, with a volume ratio of 0.07—barely a fraction of the average volume before. After a fast sell-off, such extreme volume contraction may mean panic selling has mostly played out, but it could also mean the bulls have completely given up. In the short term there’s no clear direction—only waiting.
Market sentiment: Funding rate is -0.0059%—shorts are paying. The one-way bearish sentiment is strong. In the past 24 hours it’s down nearly 10%, with trading volume of 529 million, and sell pressure isn’t small. When shorts are crowded, reversals often don’t need many reasons. But right now the chart shows no reversal signals—only oversold conditions. Oversold is not the same as a bottom. Don’t mix them up.
Whale activity: The key is the candlestick at 12:00 on October 8. Opened at 7.716 and closed at 7.317. The body is close to 0.4 USD, and volume is 208 million—about 6 times the previous candle. This level of concentrated distribution likely means large funds are either liquidating or hedging. Then volume rapidly shrank to 4.2 million, indicating the main selling force has already done its work; what’s left is retail players trading against each other.
Volume-price structure: Starting October 6, selling started to pick up with heavy volume. From the 7th to the 8th, the drop accelerated. Trade volume surged from the 30 million range to the 200 million range. It’s a classic “breakdown with volume expansion” pattern. But the very last candlestick’s volume is only 0.07 of the prior context—basically a vacuum state after the plunge. If volume doesn’t recover in the short term, the price will most likely grind its base between 7.0 and 7.4. How long it will take is unknown, but the impulsive sell-off phase itself may already be over.
Candlestick details: Support is 6.983. It was tested twice at 16:00 and 20:00 on October 8 and both times it held—still effective in the short term. Resistance is 8.025, more than 12% above the current price. In the short term there’s no sign it will likely return there. From the 9.243 peak until now, the trend over the last 30 candles is extremely clear: bears are in control with no surprises. The last candle is a small green uptick closing at 7.152, but the volume is too weak to qualify as a reversal signal.
Nini’s plan: Current price is 7.148. Bias is bearish in the short term, but the fast sell-off phase may already be over. If shorting, wait for a rebound to around 7.4 to enter, and place a stop-loss above 7.6. If longing, at least wait until volume recovers back to 30 million+ and the price holds above 7.4 before considering it. At this position, neither side is clear enough—waiting is stronger than acting. If you need a tailored strategy, you can ask Nini.
#UNI #DeFi #DEX
UNI is Uniswap’s governance token, a long-established project in the DEX sector. After Uniswap v4 went live, there’s been plenty of discussion, but the token itself has always been lukewarm—neither hot nor cold. Whether the protocol is good is one thing; whether the coin price actually moves is another.
Market signals: Over the last 30 four-hour candlesticks, the price slid from 9.05 on October 4 all the way to 7.15—a drop of more than 21%. There were almost no meaningful rebounds in between. Every time there was a small pullback, sell pressure pushed it back down again. The latest candlestick’s volume is only 4.2 million, with a volume ratio of 0.07—barely a fraction of the average volume before. After a fast sell-off, such extreme volume contraction may mean panic selling has mostly played out, but it could also mean the bulls have completely given up. In the short term there’s no clear direction—only waiting.
Market sentiment: Funding rate is -0.0059%—shorts are paying. The one-way bearish sentiment is strong. In the past 24 hours it’s down nearly 10%, with trading volume of 529 million, and sell pressure isn’t small. When shorts are crowded, reversals often don’t need many reasons. But right now the chart shows no reversal signals—only oversold conditions. Oversold is not the same as a bottom. Don’t mix them up.
Whale activity: The key is the candlestick at 12:00 on October 8. Opened at 7.716 and closed at 7.317. The body is close to 0.4 USD, and volume is 208 million—about 6 times the previous candle. This level of concentrated distribution likely means large funds are either liquidating or hedging. Then volume rapidly shrank to 4.2 million, indicating the main selling force has already done its work; what’s left is retail players trading against each other.
Volume-price structure: Starting October 6, selling started to pick up with heavy volume. From the 7th to the 8th, the drop accelerated. Trade volume surged from the 30 million range to the 200 million range. It’s a classic “breakdown with volume expansion” pattern. But the very last candlestick’s volume is only 0.07 of the prior context—basically a vacuum state after the plunge. If volume doesn’t recover in the short term, the price will most likely grind its base between 7.0 and 7.4. How long it will take is unknown, but the impulsive sell-off phase itself may already be over.
Candlestick details: Support is 6.983. It was tested twice at 16:00 and 20:00 on October 8 and both times it held—still effective in the short term. Resistance is 8.025, more than 12% above the current price. In the short term there’s no sign it will likely return there. From the 9.243 peak until now, the trend over the last 30 candles is extremely clear: bears are in control with no surprises. The last candle is a small green uptick closing at 7.152, but the volume is too weak to qualify as a reversal signal.
Nini’s plan: Current price is 7.148. Bias is bearish in the short term, but the fast sell-off phase may already be over. If shorting, wait for a rebound to around 7.4 to enter, and place a stop-loss above 7.6. If longing, at least wait until volume recovers back to 30 million+ and the price holds above 7.4 before considering it. At this position, neither side is clear enough—waiting is stronger than acting. If you need a tailored strategy, you can ask Nini.
#UNI #DeFi #DEX