Before You Invest, What To Know About UNI

UNI is currently acting like the rest of the market, but the Uniswap decentralized exchange token has seen similar cases before. As a result, investors are still so determined that they keep watching and haven’t taken big strides yet.

UNIVERSITY in the last 24 hours …

On the daily chart, the UNI price has fallen by almost 7%. However, UNI has not had good dynamics by nature for a long time.

First, the price did not hit a new all-time high since May and stayed below the ATH 62.5% after that decline.

Second, the $ 23-27 range has been a major activity for UNI since May. The $ 27 resistance was tested multiple times but failed. In addition, if you watch the ADX (Average Trend Strength Indicator) rise, it becomes clear that this declining trend for Altcoins is getting stronger every day.

Price action UNIVERSITY | Source: TradingView

Thirdly, not only the spot but also the derivatives market was affected by Uniswap in the past 24 hours. Open Interest (OI) was down $ 110 million, the funding rate went completely negative, and the market posted $ 7 million in liquidations in just one day – a three-month high.

liquidation UNIVERSITY | Source: Coinalyze

But investors don’t seem to have given up yet. Her mantra for the past 6 months has been HODL.

In fact, they took advantage of the relatively lower prices to pile up more UNI. As a result, the supply on the stock exchanges decreased continuously.

This sentiment is also reflected in UNI’s steadily slowing pace, which shows that the token doesn’t change hands much.

TO DRAWspeed from UNI | Source: Santiment

In addition, the average coin age is also evidence that investors do not currently intend to distribute coins.

Average age of coins at UNI | Source: Santiment

Not only private investors, but also whales are of the same opinion, as their volume is still very low despite a share of more than 50%.

whale UNIVERSITY | Source: Santiment

As UNI investors bravely face losses, they may not be able to exit the market for now. New investors, on the other hand, are likely to watch the market for the next 48 hours for a more appropriate entry point.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page