Apart from Dogecoin (DOGE), Ali Martinez examined Uniswap (UNI), the token of the decentralized exchange Uniswap.
“Selling Pressure Has Reduced in UNI, Rising Is Coming!”
Stating that things are about to turn around for UNI, which has seen a strong sales pressure recently, Martinez said that the sales pressure in UNI has been exhausted.
Stating that UNI has created significant support around $4 at this point, the analyst pointed out that optimism among UNI investors has been renewed.
The analyst also pointed out that the number of UNI transactions has increased, and said that this increase indicates that UNI activities of institutional investors and UNI whales have increased at current price levels.
This may indicate that institutional investors and whales are making strategic investments or may be taking positions in anticipation of Uniswap's upcoming rise.
Pointing out that $ 4 is an important support for UNI, the analyst added that UNI must overcome the purchase walls of $ 4.23 and $ 4.45 to continue its rise.
“With 87.56% of UNI investors holdings in an “Out of the Money” position, Uniswap is poised for an exit!
UNI investors do not believe; Selling pressure has worn off and a significant support base has been established around $4.
Interestingly, the number of large UNI transactions is increasing, indicating an increase in interest from institutional players and UNI whales at current price levels.
They may be investing or positioning themselves before Uniswap rises.
Although UNI forms significant support at $4, it still has 2 supply walls to overcome to signal bullishness.
One is $4.23, where 7,000 addresses bought 14.24 million UNI; the other is $4.45, where 2,000 addresses received 10.28 million UNI.”
With 87.56% of $UNI holders positioned "Out of the Money," #Uniswap is preparing for a breakout! 🚀 #UNI investors are in disbelief; selling pressure has gotten exhausted, and an important support floor was bulit around $4. pic.twitter.com/HBWbOMv1BG
— Ali (@ali_charts) October 29, 2023
*This is not investment advice!
