Unibase (UB) gained more than 21% in the last 24 hours, rising above $0.10 and beating Bitcoin (BTC) and the crypto market. Daily trading volume also rose 15%, matching the price rally.
Spot data and derivatives show that general market conditions fueled the move.
Why did Unibase hold a meeting?
Big driver in the back Unibase on Rally appeared to be a capital return to AI agent tokens after it stabilized a bit. This momentum pushed UB into the top ten AI tokens and social media trends.
At the same time, a $400,000 closed fund added fuel to the rally. About 85% of the withdrawals were short-term, while long-term accounted for the remaining 15%. One large closing was about $41,000.
This created a short-term squeeze. More than $268,000 in short positions were liquidated against $88,000 in longs. Most of these transactions took place on Binance and OKX.
However, bullish sentiment continued to be dismissed.
Cash prices remained positive and continued to rise. On top of that, a Aggregated Futures Bid/Ask Delta rose to 1 million, indicating that consumers are becoming aggressive.
Open Interest (OI) and Cumulative Volume Delta (CVD) also rose in the short term. However, both metrics remained weak on the 4-hour chart. OI fell from $122 million to $89 million.
CVD remained flat at 147 million although it recovered slightly. This means that some traders take profits, helping to explain the resistance around $0.11.
Can UB continue?
After establishing support between $0.05 and $0.06, UB continued to print above the hourly chart. However, the rally is now facing major resistance at $0.11 and $0.15.
The uptrend continued to respect the upward trend. However, the price also appeared to be far from support, raising the possibility of a long-term pullback before another move.
MACD remained stable, both lines pointing upwards. The Stochastic RSI also stayed above 90, indicating oversold rather than oversold.
The failure to recover $0.11 and eventually turn $0.15 to support could leave UB locked inside its bullish pattern.
Overall, buyers remained strong, but a recovery of these resistance levels would strengthen the case for stability. Otherwise, another rejection will encourage the sellers to regain control.
Brief Summary
- Unibase is up 21% as business activity increases in the outbound market including inbound revenue.
- UB price action started to see a market reversal but needed to turn around $0.15 as confirmation support.
