$UNI has been grinding back quietly while everyone stares at BTC. It's sitting around 7.24, up ~1.6% on the day, and the last day's high tagged 7.43 before getting sold.
On the NanoTrading Fire chart (4h) price is holding just above the POC around 7.14, so the middle of the range has flipped into support for now. The thick bid bands are lower, roughly 6.7-6.9, near the value area low. Above price the book is thin until ~7.5, and the liquidation view shows short liq tags stacked around 7.27-7.46.
Positioning leans long though. OI on Binance perps went from ~20.7M to ~23.1M UNI over the last day and is holding ~22.8M. Funding ticked up to 0.01-0.016%, top traders are ~74% long and the overall crowd ~66% long. That's a lot of people on one side for a coin still under 7.5.
My read: a 4h close above 7.30 likely pulls price into those short liqs toward 7.45-7.50. Lose 7.14 and I'd expect the crowded longs to get flushed toward the 6.9 bids. In between, $UNI is just chopping around the POC.
Are you guys longing the POC hold here, or waiting for 6.9?
NFA, just how I read the chart.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#UNI #Uniswap #CryptoTrading #NanoTrading
On the NanoTrading Fire chart (4h) price is holding just above the POC around 7.14, so the middle of the range has flipped into support for now. The thick bid bands are lower, roughly 6.7-6.9, near the value area low. Above price the book is thin until ~7.5, and the liquidation view shows short liq tags stacked around 7.27-7.46.
Positioning leans long though. OI on Binance perps went from ~20.7M to ~23.1M UNI over the last day and is holding ~22.8M. Funding ticked up to 0.01-0.016%, top traders are ~74% long and the overall crowd ~66% long. That's a lot of people on one side for a coin still under 7.5.
My read: a 4h close above 7.30 likely pulls price into those short liqs toward 7.45-7.50. Lose 7.14 and I'd expect the crowded longs to get flushed toward the 6.9 bids. In between, $UNI is just chopping around the POC.
Are you guys longing the POC hold here, or waiting for 6.9?
NFA, just how I read the chart.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#UNI #Uniswap #CryptoTrading #NanoTrading
