$UNI - Long
Since 10/10, alts have incurred tremendous drawdowns across the board and imo most of the intermediate selling is done. Almost everyone who has wanted to capitulate has already done so after 5 weeks of continuous drawdown.
I’m of the opinion that strong alts with fundamental drivers will outperform in the case of a market bounce and Uniswap with its latest fee switch occupies latest mindsets the most.
Uniswap has a combination of a couple of unique selling points:
1. Absolutely zero prior positioning as it was classified as uninvestable by funds due to the equity / token stakeholder conflict + VC selling
2. Narrative leader for the revenue meta given the latest fee switch and 180 degree swing from the team in support of tokenholders.
3. Price almost at pre-announcement levels from the fee switch proposal.
Couple this together and I think if the market finds a LTF bottom on majors, I think $UNI is in pole position to run in the next few weeks.
Invalidation would be below $6.50, at pre-ann price levels.
