Eugene: Bullish on UNI or leading the market rebound

Trader Eugene posted that since October 10, most altcoins have experienced significant pullbacks. He believes that the phase of selling pressure has largely been released, and most investors who chose to cut losses have exited during the continuous five-week decline. He pointed out that if the market rebounds, quality tokens driven by fundamentals may perform better, with Uniswap receiving more attention due to recent progress on fee switch developments.

Eugene stated that UNI has factors such as no historical heavy positions, a strengthened income narrative, and the current price being close to the level before the fee adjustment proposal was announced, which may provide upside potential in the coming weeks. The invalid range for his view is below $6.50.