I’m watching $UNI as it undergoes a short-term pullback, and this kind of correction is healthy. It clears overextended positions and allows the market to reset, which often leads to stronger and more sustainable moves.

Trade Setup:

Entry Zone: $5.84 – $5.87 — this zone is strong because it coincides with a previous support area from early December and sits near the 38.2% Fibonacci retracement of the last swing up. If this level holds, it shows sellers are regaining control while buyers hesitate.

Target 1: $5.70 — a minor support zone where price previously consolidated, ideal for a first partial take.

Target 2: $5.55 — a deeper reaction area that has historically acted as strong support, serving as a second target.

Stop Loss: $5.90 — just above the recent swing high, protecting against a breakout above the entry zone.

The reason this zone is significant is that price has reacted here multiple times, and the alignment with both previous support and retracement levels makes it a reliable area to watch. They’re building strength in this range, and if this level holds, we could see a controlled move toward Target 1 and potentially Target 2.

I’m keeping an eye on volume and price action to confirm the move before fully committing.