Uniswap’s native token initially destroyed the bottom of its lifting line after failing momentum above the $ 6.00 support level.
The refusal followed the formation of an ascending channel earlier in the day, but that structure collapsed under the sale of high volume, including a spike of more than 1.4 million units as prices temporarily touched $ 6.00.
However, the destruction has been proven temporarily. UNI quickly reversed the course and climbed back to $ 6.18, indicating a strong interest purchase and suggesting the climb could be intact if support near $ 6.05 continues to hold.
Technical assessments
- The UNI developed a clear upward channel throughout the day, with a well-known $ 6.00 level backed above-average volume.
- A sharp reflection occurred as the UNI was temporarily damaged under its uptry line, prompting the sale of high volume.
- Two significant spikes occurred: over 455,000 units at 1:38 and exceeding 1.4 million units at 1:42.
- The token quickly collapsed after the damage, recovery to the ground and pushing back to the $ 6.18 place.
- The initial resistance was encountered at $ 6.19, which now appears to reach again as the bullish momentum returns.
- Price action showed a large incidence of intraday of 0.226 (3.78%), featuring continuous volatility
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