- UNISWAP gathered more than 30 % as Bitcoin regained $ 100,000.
- The 8 -dollar resistance can become sticky if the tie holders relax sites.
Underp [UNI] 26 % was pumped on May 8, when Bitcoin criticized more than $ 100,000 for the first time in three months.
On the ninth of May, before opening the American market, the Defi code recorded an additional 3 % profit, raising the total to 35 % in the past 48 hours.
But can the gathering extend to the weekend with a major obstacle in an area between 7.5 to 8 dollars?
Uni’s path forward
Source: UNI/USDT, Tradingview
Quarter 1 discharged about 5 dollars, the same level that stopped August 2024. If the recovery of last August was repeated, the Alawite Aqaba at $ 8 (the red zone) was the main main goal.
Therefore, bulls can still pay for an additional gain between 18 and 20 % from the current level currently to $ 7.5 to $ 8.0. In fact, RSI was near the peak area, which means that the signs of reflection were not distinguished yet.
Moreover, the real average ATR, which tracks fluctuation, was low, indicating that the gathering may not end.
On the contrary, the bullish thesis will be nullified if the UNI slims less than 50-feature (Si-moving average) at $ 5.8.
More than 60 % of UISWAP holders
It should be noted that the upper obstacle can be sticky due to two main factors. First, only 8 % of UNI holders were in the current value, but 61 % of their holders were at a tie level.
In the scenario of the worst cases, investors in the cooperation process can empty their hidden to preserve their capital and the assembly position.
source: INTOTHEBLOCK
In fact, Santime also showed that those who have retained the distinctive symbol over the past thirty days have unreasonable profits of 18 %.
This can push short -term holders to book profit.
Source: Santime
Combated, the $ 8 general expenditures can be a challenge for bulls, especially if BTC slips to less than $ 100,000.
However, if the morale extends to the risks and the BTC dominance decreases to 60 % or less, the UNI may be considered $ 9.5 or the psychological level of $ 10.
Responsibility: The information provided does not constitute financial, investment, trading or other types of advice, which is just the opinion of the writer
