I am Zhou Yi, let's not beat around the bush today, let's get straight to the hard facts - regarding UNI's trend, I'm not optimistic!
First, let's look at the technical aspects.
The one-hour chart has already explained everything. The upper resistance level is firmly stuck at 5.547, the key level is barely holding at 5.374, while the support level at 5.287 is like a thin sheet of ice, easily broken.
The price is currently pressed below $5.6, unable to rise or fall, a typical 'compressed market'.
This trend often indicates that a big move is coming - either a surge or a crash. Given the current volume and structure, I lean towards the latter.
Looking at the news again
Yesterday, Vitalik Buterin sold coins again and again, dumping 1,400 UNI at once, and what happened? The market didn't even make a splash! What does this indicate? It's not that he sold too little, but that the market simply can't hold it and has no interest in taking it.
On-chain data shows that supply has flowed out of exchanges, seemingly reducing selling pressure, but it looks more like the big players are playing a game of 'left hand selling to right hand', and it's not a real buying signal.
If the price really were strong, it should have surged past $5.6 to trigger a short squeeze by now, but what about now? We can't even touch it.
So my view is very clear: I am bearish on UNI in the future!
Although it may continue to grind between 5.3 and 5.5 in the short term, as long as it breaks below the support at 5.287, the next target is below $5. Don't be misled by those 'supply outflow' data; a real trend change requires a breakout above $10, and now it can't even reach $6. The major trend is down, and any rebound is just an opportunity for you to escape.
If you still hold UNI, it's recommended to reduce your position at highs, don't wait until it breaks down and regret it. The crypto world isn't short of opportunities; what's lacking is the capital to survive until tomorrow. Pay attention to the I Ching, which will help you avoid 90% of the players' pitfalls. Join the I Ching village; let's meet at 10 PM in the village tonight! I am lurking in coins that can yield 10 times returns every day!
