- If Bitcoin returns $ 100K, Uniswap urged more than 30%.
- If the Holder solves the position, the $ 8 resistance may be sticky.
Uniswap (UNI) Bitcoin pumped 26%on May 8, as Bitcoin blasted more than $ 100k for the first time in three months.
On May 9, before the US market opened, Defi token recorded an additional 3%profit, raising the total recovery to 35%over the last 48 hours.
But can the rally be extended on weekends as a major obstacle in $ 7.5- $ 8?
Uni’s road
Source: UNI/USDT, TradingView
The Q1 dump relaxed about $ 5 at the same level as it stopped plunge in August 2024. If the recovery of August was repeated, the main target was $ 8 (red) overhead obstacles.
Therefore, Bulls can still achieve additional profits of 18-20%at $ 7.5- $ 8.0 at the current $ 6.3. In fact, the RSI was near the excess area, which means that the reversal signs have not yet flashed.
In addition, the average True range (ATR) that tracks volatility is still low, suggesting that the meeting may not end.
On the contrary, if the UNI slides below $ 5.8 below the 50-EMA (index moving average), the strong paper is invalidated.
More than 60% of uniswap holders from Break-Even
It is worth noting that the two major factors can cause overhead obstacles to be sticky. First, only 8%of the UNI holders benefited from the current value, but 61%of the holders were profit and loss.
In the worst scenario, Break-Even’s investors were able to preserve their capital and stop the rally in order to get off the hideout.
source: INTOTHEBLOCK
In fact, SantIMent has shown that the average profits have been realized by people with tokens over the last 30 days.
This allows short -term holders to make a reservation.
Source: Santiment
Taken together, an overhead of $ 8 can be a challenge for the bull, especially if the BTC slides less than $ 100K.
However, if the risks are expanded and the BTC dominance falls below 60%, the UNI can keep an eye on the psychological level of $ 9.5 or $ 10.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.