Uniswap’s [UNI] sellers made 14% shorting gains after devaluing the altcoin from $4.6 to $3.98 in the first half of October.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.sellers made 14% shorting gains after devaluing the altcoin from $4.6 to $3.98 in the first half of October. However, bulls re-grouped at $3.98 and attempted a mid-month reversal at press time.as a crucial rebound area for Uniswap. The projection was confirmed, but UNI’s recovery faced overhead hurdles that traders should note.
Since mid-August, capital inflows into UNI’s market weakened, as indicated by CMF below zero. Besides, buying pressure eased in October and remained below the 50-mark. So, the overhead hurdles could prove more challenging for bulls to crack.Source: Santiment
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