$UNI /USDC Under Pressure After Parabolic Spike and Distribution Phase
$UNI /USDC on the 1H timeframe reflects a classic blow-off top structure after the aggressive spike to 4.576, followed by sustained distribution and a steady sequence of lower highs. The vertical expansion appears to have triggered liquidity grabs above 4.50 before heavy profit-taking entered the market. Since that peak, price has transitioned into a clear corrective downtrend, recently tapping the 3.210 intraday low and currently stabilizing around 3.236. The structure now shows persistent bearish momentum, with short-term rallies failing to reclaim the 3.44–3.50 resistance cluster.
Technically, 3.20–3.15 acts as immediate demand support, while 3.44 remains the key upside barrier for any recovery attempt. A strong hold above 3.20 could produce a relief bounce toward 3.40+, but failure to defend this level may open further downside extension as liquidity builds below recent lows. Volume reaction around the current range will determine whether UNI is forming a base after distribution or preparing for another leg lower within the broader corrective cycle.