UNI trend has recently shown a significant change. On the four-hour chart, the MACD has formed a death cross above the zero line, with the green bars turning red and decreasing in volume. This is not a simple technical correction but reflects signs that market profit-taking is collectively exiting.

From a news perspective, on-chain data shows that a major holder has deployed 1.68 million UNI at a low cost of $5.2 before the UNI proposal was approved, with unrealized gains reaching $1.37 million. While this seems like positive news, it contains risks: once the positive news is truly implemented, the lack of subsequent new catalysts could cause funds to fall into a "buy the rumor, sell the fact" trap. For large holders who have already made substantial profits, the current price around $6.5 is the most suitable time to realize gains, and selling pressure could appear at any moment.

Technical signals are even more ruthless. The four-hour chart has broken below the upward channel, showing a weak structure of "lower highs and lower lows." The MACD death cross is confirmed, with increasing red bars, indicating bullish momentum is waning and bearish power is beginning to take over. From the volume-price relationship, the previous volume-driven rise was followed by a volume-driven decline, a typical distribution volume characteristic.

Key levels to watch on the market: In the resistance zone, 7.070 is a strong resistance level during rebounds, while 6.440 is the intraday dividing line between bulls and bears—if the rebound cannot reach this level, it indicates that the bulls are no longer able to push higher and may instead fall into a trap of false optimism. On the support side, 5.874 is a critical support level; if broken, it confirms a bearish trend. The secondary support is at 5.347, and 4.841 is the potential target area for this round of decline.

At this stage, the balance of power between bulls and bears is subtly shifting. This level requires cautious observation; if the rebound does not break 6.44, it will serve as an important reference signal for the subsequent market trend.