![Uniswap [UNI] attempts recovery; short-sellers opportunities limited?](https://i.headtopics.com/images/2023/3/14/cryptoamb/uniswap-uni-attempts-recovery-short-sellers-opport-uniswap-uni-attempts-recovery-short-sellers-opport-1635499243979808768.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion UNI’s downtrend slowed after bulls attempted recovery at press time. Funding rates fluctuated, but the 90-day mean coin age rose. Uniswap [UNI] saw aggressive selling after March 8 (Wednesday), but it was slowly easing […]
UNI inflicted a bullish rally after forming a double-bottom in mid-February. However, the price rejection at $7.620 set the asset into an extended correction that formed a descending channel .
However, the price dump hit a crucial confluence of support levels, making a reversal and potential recovery highly likely. But a close below December’s low of $5 would invalidate the above thesis. A retest of December lows would clear all the gains in early 2023, but the downswing could face a likely barrier at $4.656.
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