【Is this pullback of UNI an opportunity or a trap?】
Wow, I just saw the news: Uniswap Trading 0.3% Lower Over Last Week (UNI), this is interesting! To be honest, my first reaction upon seeing this news is that I'm itching to trade. UNI has risen from $5.28 to now $5.730000, with a strong upward trend, and the RSI has reached 72.1, clearly overbought. However, this is often when there are the most opportunities.
I think this pullback might be a false drop, after all, Uniswap's ecosystem has been developing, and the user base is also growing. The current price is $5.730000, with support at $5.500800, resistance at $5.959200, and the breakout point at $5.873200. To be honest, I'm a bit worried that this pullback will continue to go down, but my experience tells me that this strong upward trend won't change easily.
My plan is as follows: If UNI can hold above $5.730000, I will increase my position, with a stop loss set at $5.500800, and a target price of $5.959200. If it really breaks through $5.873200, then I will increase my position again and aim directly for $6.00. What do you guys think? Let's discuss this market!
📊 Key price levels:
• Support: $5.500800
• Resistance: $5.959200
• Breakout: $5.873200
