The Unibase token UB has increased by more than 45 per cent over the past 24 hours, and the volume of daily transactions has increased by 180 per cent to about $65 million. As trade activity rose, the market began to repricing the continuity of the rebound.
Price reset support position
The UB regained a line of 0.09136 dollars, and the previous one was considered a false breakthrough. The price then returned to the 50- and 100-day average, but still below the 200-day average. The position is also adjacent to a US$ 0.15 resistance level.
If UB continues to move up, the range between $0.2338 and $0.25 will become the next observation area. If we can't get up in the 0.11 to 0.12 dollar area, the current rebound may be just about a 30% drop last week.
Derivative data is stronger
Chain and derivative indicators show that market sentiment is improving. It is mentioned that more than 180 million UBs have been purchased in the Binance derivatives market, and the MACD shows kinetic energy enhancement.
At the same time, OC weighted fund rates were converted to positive values and raised to a high of 0.04 per cent this month. This usually means that many premiums are paid for the maintenance of the warehouse, and short-line trade heat increases significantly.
The concentration of holding is being monitored.
However, the UB hold-up distribution remains a market concern. The data show that the previous wallet addresses together controlled more than 80 per cent of the supply, with a single entity holding more than 25 per cent. The other three sites hold 15% to 16%, 8.35%, 4.77% and 3.97% respectively.
The article states that if these addresses belong to the team vault or belong to the unlocked wallet, the concentration does not necessarily directly affect the price; but if they are held mainly by large households, subsequent volatilities may be magnified.