Aggressive selling surged within a short period, while buy orders failed to continue stacking at the original support level, and the market was pushed sharply lower.
Spot $UNI changed hands at $6.508, breaking below the narrow range of $6.62 to $6.772 that had held for the previous four hours.
As the price broke lower, trading volume surged to nearly six times its usual level, with aggressive buying accounting for only about 24%; the vast majority of trades were driven by market sell orders.
This situation, with buyers passively defending and sellers driving the move, broke the earlier balance. A new stable range will have to be reshaped by orders further down.
Spot $UNI changed hands at $6.508, breaking below the narrow range of $6.62 to $6.772 that had held for the previous four hours.
As the price broke lower, trading volume surged to nearly six times its usual level, with aggressive buying accounting for only about 24%; the vast majority of trades were driven by market sell orders.
This situation, with buyers passively defending and sellers driving the move, broke the earlier balance. A new stable range will have to be reshaped by orders further down.