The explosive rise of altcoins has never relied on consensus, but rather on cold starts. Recently, #UNI has gained a lot of attention, with some people regretting missing out, while others seized the opportunity but failed to sell at the top! Those following Miao Jie’s trades should not have been trapped this time!
For most of May, UNI fluctuated between $6.10 and $7.50. The recent rebound broke the consolidation pattern, with prices once approaching $8.30. Early this morning, affected by the overall market, it hit a low of $6.8, but has since rebounded slightly to currently report at $7.3.
So, after this wave, does #UNI still have a chance to rise?
Despite the recent strong daily trend and dominance of green candles, it is important to note that in the long term, UNI has not yet escaped the downward pattern. It has dropped 53% over the past 180 days and nearly 19% this year. However, the trading volume and SMA indicate that funds are flowing back in. If the momentum doesn't wane, there may still be upward space in the future.
Overall, for UNI to make a strong upward move, it needs to effectively break through the key resistance at $8.677.