![Analyzing if Uniswap [UNI] bulls can induce a rally before this pullback](https://i.headtopics.com/images/2022/11/12/cryptoamb/analyzing-if-uniswap-uni-bulls-can-induce-a-rally--analyzing-if-uniswap-uni-bulls-can-induce-a-rally--1591499823475064832.webp)
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. UNI found rebounding grounds as it strived to prevent an extended bearish pennant breakout loss. The crypto’s Open Interest revealed mixed signals over the past day. Uniswap’s [UNI] latest reversal entailed a bearish pull below […]
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.The crypto’s Open Interest revealed mixed signals over the past day.
In consequence, the decline chalked out a classic bearish pennant in the four-hour timeframe. The resulting breakdown marked an over 10% retracement while the bulls strived to reject lower prices near its relatively high liquidity zone in the $5.2-$5.5 range. Any close above the $6.15-mark can aid the buyers to extend their rally toward the 50/200 EMA. But a reversal from the trendline resistance could continue fueling UNI’s bearish inclinations in the coming times.
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