I’m watching $UNI as it’s gone through a short-term pullback, and this correction is actually healthy. It helps absorb the recent overextension and lets the market reset, which often strengthens the next move.

Trade Setup:

Entry Zone: $5.82 – $5.85 — this zone is strong because it lines up with a previous support level from late November and sits right at the 38.2% Fibonacci retracement of the recent upward swing. If this level holds, it shows sellers are regaining control while buyers are cautious.

Target 1: $5.68 — the first minor support where price previously consolidated.

Target 2: $5.54 — the lower reaction area from prior trading sessions, a deeper target if momentum continues.

Stop Loss: $5.90 — just above the last swing high, limiting risk if the zone fails.

The reason I’m focusing on this zone is simple: price has reacted here multiple times, and the confluence of previous support and retracement makes it a solid area to watch. They’re building strength in this region, and the market is testing it carefully.

If this level holds, I expect the first push to Target 1, and potentially Target 2 if the selling momentum continues. I’m keeping an eye on volume and price action to confirm the move before fully committing.