Eugene: Bullish on UNI or leading the market rebound
ChainCatcher News, trader Eugene stated that since October 10, most altcoins have experienced significant corrections. He believes that the phase of selling pressure has largely been released, and most investors who chose to stop losses have already exited during the five consecutive weeks of decline. He pointed out that if the market rebounds, high-quality tokens with fundamental drivers may perform better, among which Uniswap has attracted more attention recently due to progress on its fee switch.
Eugene stated that UNI has factors such as no historical heavy positions, strengthened income narrative, and the current price being close to the level before the fee adjustment proposal was announced, which may give it upside potential in the coming weeks. The invalidation range for his view is below $6.50.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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