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Thoughts on $UNI and the $3.20 Level
Been watching $UNI with some interest today, specifically that move up to $3.197. It's been a pretty strong run, clearly outpacing $WETH, and honestly, it looks like it's challenging a level where it's found some resistance in the past. My take is that while the momentum is strong, breaking cleanly above $3.20-$3.25 is going to be crucial. If it stalls out around here and fails to hold that level, especially if we see some profit-taking into the close, then we could easily see it retrace back towards the prior daily open. It's not a prediction, just observing that significant buying volume at this resistance point often needs follow-through, and a failure to do so could lead to a quick unwinding. Still, a decent day for the hodlers.
1 comments · 1 points
That's a good point about the $3.20-$3.25 level. I'm curious, what makes you think $UNI is outperforming $WETH? Are you looking at a specific timeframe or metric?