Trader Eugene: Bullish on UNI, need to reassess if it falls below $6.5

On November 17, trader Eugene Ng Ah Sio posted on his personal channel, stating, “I am bullish on UNI. Since October 10, various alts have encountered a significant pullback, and I believe most of the mid-term selling pressure has ended. Almost all investors who wanted to cut losses have already exited after five consecutive weeks of pullback. I think that in the case of a market rebound, fundamentally strong alts will outperform the market, and Uniswap has become the focus of attention due to the latest fee adjustments. Uniswap has several unique selling points: 1. Almost no capital positions previously: Due to conflicts between equity/token holders and VC sales, it was viewed as non-investable by funds. 2. Income narrative leader: The latest fee adjustments and the team's 180-degree shift from supporting project parties to supporting token holders have made it the narrative focus. 3. Price close to the level before the fee proposal announcement. Overall, if the major coins in the market find a bottom in the short term, I believe UNI is likely to perform well in the coming weeks. If the price falls below $6.50 (the level before the fee proposal announcement), then the viewpoint will be invalidated.”