⚠️ Is $UNI preparing for a sharp drop?
UNI is currently struggling around the $9.0–$9.2 resistance zone, while Open Interest has climbed to nearly $935M. Funding rates remain positive, suggesting that Long positions are dominating and paying fees to Shorts.
What concerns me is that OI has increased significantly while price still hasn’t produced a clear breakout. If UNI loses $8.95 → $8.86 → $8.73, a wave of Long liquidations could accelerate the downside.
📉 $8.73 is the key level I’m watching. If this level breaks with rising volume and liquidations, the selling pressure could become much stronger.
That said, UNI still has strong long-term fundamentals, including protocol fee/burn mechanisms and growing Uniswap activity. So for now, I’m looking at this as a potential short-term correction, not necessarily the beginning of a long-term downtrend.
DYOR & manage your risk. ⚠️
UNI is currently struggling around the $9.0–$9.2 resistance zone, while Open Interest has climbed to nearly $935M. Funding rates remain positive, suggesting that Long positions are dominating and paying fees to Shorts.
What concerns me is that OI has increased significantly while price still hasn’t produced a clear breakout. If UNI loses $8.95 → $8.86 → $8.73, a wave of Long liquidations could accelerate the downside.
📉 $8.73 is the key level I’m watching. If this level breaks with rising volume and liquidations, the selling pressure could become much stronger.
That said, UNI still has strong long-term fundamentals, including protocol fee/burn mechanisms and growing Uniswap activity. So for now, I’m looking at this as a potential short-term correction, not necessarily the beginning of a long-term downtrend.
DYOR & manage your risk. ⚠️
