Uniswap’s price stands at 9.60 USD, and it needs to maintain support above 9.55 USD to potentially rise by 30% to 12.60 USD. A drop below 9.45 USD could result in a decline of 15% to 8.15 USD.
Traders appear over-leveraged, with long positions around the 9.57 USD mark and shorts at 9.73 USD. Despite a price drop of 2.25%, trading volume surged by 70%, indicating strong participation.
Technical analysis shows an ascending triangle pattern for UNI, which could lead to bullish outcomes if the price holds above 9.55 USD. However, failure to do so may trigger a significant decline.
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