Unibase [UB] recorded one of its sharpest pullbacks in days as its recent rally lost momentum.
UB fell 24% over the past 24 hours, erasing a large portion of its recent gains.
The decline also pushed UB below its 20-day Exponential Moving Average (EMA). This weakened the short-term bullish structure formed during recent weeks.
At the same time, derivatives data suggested traders were becoming less optimistic.
Why is bullish sentiment fading?
The futures market showed early signs of caution.
Unibase’s Funding Rate declined by 0.000047, suggesting long traders became less willing to pay a premium. Although the Funding Rate remained positive, its decline reflected fading confidence after the correction.
AMBCrypto’s previous analysis projected a rally toward $0.25 if UB decisively cleared the $0.20 resistance. However, the token briefly moved above $0.20 before reversing sharply.
Momentum indicators also flashed bearish signals.
Unibase’s Stochastic RSI turned lower from the overbought region. This suggested buying pressure was weakening after the rally. Combined with the break below the 20-day EMA, the setup could favor sellers over the short term.
Could UB fall toward $0.065?
The Liquidation Heatmap strengthened the bearish case.
Several high-value liquidation clusters sat below UB’s current price, particularly around $0.065. These clusters could attract price if selling pressure persists and leveraged positions unwind.
Therefore, buyers may need to reclaim the 20-day EMA to weaken the bearish setup.
Otherwise, softer derivatives sentiment, declining momentum and lower liquidity clusters could encourage another selling wave. Sellers had regained short-term control at press time. UB could avoid a deeper pullback if buyers absorb selling pressure before the price reaches the lower liquidity clusters.
Final Summary
- UB fell 24% and slipped below its 20-day EMA, weakening its short-term bullish structure.
- Falling Funding Rates and liquidity near $0.065 increased the risk of another decline.
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