📉UNI is bearish in the short term; rebounds remain under pressure
November 9 morning snapshot: UNIUSDT is around 6.90, down 3.24% over 24 hours, with $131 million in trading volume; OI is around $135 million, down about 5% over 24 hours. Price and open interest have declined in tandem, leaving the basis for a rebound weak. Market (https://finderside.com/symbols/UNIUSDT/), OI (https://seandra.ai/perp/uni)
The funding rate is -0.0013%/8 hours, close to neutral. Buying has picked up over the past hour, but aggressive net selling in 4-hour futures contracts remains at $5.11 million, so selling pressure has not yet eased. Capital flows (https://finderside.com/symbols/UNIUSDT/) Spot 1-hour RSI is 47.9; both MACD lines and the histogram are negative, indicating continued weak momentum. Indicators (https://closedcandle.com/coin/uni/indicators)
Over the next 4–24 hours, the outlook favors resistance to a rebound, followed by another test of support. Watch 6.61; a break below points to 6.50. Resistance is at 7.00 and 7.19. A decisive move above 7.19 on strong volume would invalidate the bearish outlook.
#UNI #UNIUSDT #Uniswap #Market Analysis
November 9 morning snapshot: UNIUSDT is around 6.90, down 3.24% over 24 hours, with $131 million in trading volume; OI is around $135 million, down about 5% over 24 hours. Price and open interest have declined in tandem, leaving the basis for a rebound weak. Market (https://finderside.com/symbols/UNIUSDT/), OI (https://seandra.ai/perp/uni)
The funding rate is -0.0013%/8 hours, close to neutral. Buying has picked up over the past hour, but aggressive net selling in 4-hour futures contracts remains at $5.11 million, so selling pressure has not yet eased. Capital flows (https://finderside.com/symbols/UNIUSDT/) Spot 1-hour RSI is 47.9; both MACD lines and the histogram are negative, indicating continued weak momentum. Indicators (https://closedcandle.com/coin/uni/indicators)
Over the next 4–24 hours, the outlook favors resistance to a rebound, followed by another test of support. Watch 6.61; a break below points to 6.50. Resistance is at 7.00 and 7.19. A decisive move above 7.19 on strong volume would invalidate the bearish outlook.
#UNI #UNIUSDT #Uniswap #Market Analysis