Eugene: Bullish on UNI, which may lead the market rebound.

Odaily Planet Daily reports that trader Eugene stated that most altcoins have experienced significant corrections since October 10th. He believes that the selling pressure has largely dissipated, and most investors who chose to cut their losses have exited the market during the five consecutive weeks of decline. He pointed out that if the market rebounds, high-quality tokens with strong fundamentals may perform better, with Uniswap receiving more attention due to recent progress on its fee switching mechanism.

Eugene stated that UNI has potential for upward movement in the coming weeks due to factors such as no historical heavy positions, a strengthened revenue narrative, and current prices being close to levels before the fee adjustment proposal was announced. He believes the invalidation range for UNI is below $6.50.