UNI token has shown signs of a potential trend reversal after breaking out of a descending channel following weeks of consolidation. Trading at $14.85 with a 2.32% gain, UNI's rounded bottom pattern and a 30.48% surge in 24-hour trading volume indicate bullish momentum. The token's price movement is driven by growing optimism among traders, supported by on-chain metrics like increasing investor sentiment, steady adoption, and accumulation by large holders. However, traders need to monitor the $16 resistance level and potential changes in exchange reserves for sustained gains.
is in the news today after it broke out of a descending channel after weeks of consolidation, showing clear signs of a potential trend reversal . Trading at $14.85 following gains of 2.32% at press time, the token has attracted significant attention with its rounded bottom pattern – A sign of bullish momentum .
Additionally, the token’s trading volume spike seemed to reinforce confidence, signaling heightened activity in the market. Concentration levels have also risen by 0.18%, reflecting accumulation by large holders. However, large transactions declined by 9.87%, suggesting some institutional caution.At press time, UNI’s exchange reserves stood at approximately 69.2996M, following a slight fall of 0.07% in the last 24 hours. This indicated that more holders are transferring tokens off exchanges, reducing immediate selling pressure.
UNI Cryptocurrency Trend Reversal Bullish Momentum On-Chain Metrics
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