$UNI Bears Tightening the Noose as Support Crumbles
$UNI (Uniswap) is looking absolutely heavy on the 1h chart, currently trading at 3.471 (-0.49%). After a brutal rejection from the 3.739 peak, we’ve entered a textbook distribution phase that is now testing the psychological 3.400 floor. The EMA(7/25/99) ribbons have fully flipped bearish, with price currently trapped beneath the EMA(7) at 3.494.
Entry Zone (Short): 3.475 – 3.515
Target 1: 3.397 (Testing that 24h low!)
Target 2: 3.300
Moon Target: 3.150
Risk Cut: 3.530 (Above EMA 25)
The technical bias is strictly bearish. RSI(6) is sitting at 38.44, meaning we have massive runway for further downside before hitting oversold levels. We are seeing a sequence of lower highs and lower lows, and with volume drying up on these tiny bounces, it's only a matter of time before the trapdoor opens. Unless we reclaim the EMA(25) at 3.513, every "pump" is just a gift for the bears. Get in before the flush to $3.30 starts!