UNI Price Hits Critical Point as Momentum Goes Silent

UNI has surged by 11% in just one day to $4.88, but experts say it's approaching a critical point where it needs to break through its upper Bollinger Band at $5.05 or face a potential pullback.

The cryptocurrency is currently trading above all its moving averages, which could be seen as bullish. However, the momentum behind this move has gone silent, with the MACD histogram flatlining at zero. This suggests that the price may not continue to rise without further fuel from new leveraged positioning.

According to Alvin Lang's analysis, the derivatives picture shows broad conviction meeting structural risk. Both retail and smart money are skewed long, but open interest dropped 6.29% over the last 24 hours, which could be a sign that whales are trimming their longs or shorts getting liquidated.

The immediate setup is critical, with price sitting at 92% of its Bollinger Bands' upper limit and stochastics pegged above 94. If UNI consolidates between $4.74 and $5.05 for the next 12-18 hours, it could reset from overbought and rebuild momentum. A daily candle close above $5.12 would trigger a breakout, targeting $5.37 as the primary objective.