Unibase (UB) has attracted renewed buying interest after rising 17.76% over the past 24 hours, reaching $0.1459 at press time.
Trading volume also increased by 36.52% to reach $15.36 million, indicating that new participation accompanied the recent progress and not weak liquidity.
This price expansion came after a period of steady recovery from the lows recorded in July, as buyers gradually regained control after defending key support.
However, the recent rise also put UB directly below an important resistance area near $0.150. This level has previously rejected many rallies, making it the immediate obstacle for the bulls.
Why did leverage return to UB?
Derivatives traders also increased their exposure with open interest rising 17.90% to $41.35 million.
Besides, trading volume in derivatives markets increased by 131.77% to reach $114.66 million, confirming the acceleration of speculative participation with spot buying.
This combination indicates that new capital is entering the futures markets rather than traders just rolling over existing positions. As a result, bullish sentiment strengthened in both markets during the rally.
However, rising open interest also indicates that leverage has continued to build near resistance, increasing the potential for greater price volatility if traders adjust their positions quickly.
However, the simultaneous increase in price, spot activity and futures participation reflects stronger confidence than rises driven by leverage alone.
Spot outflows kept exchange supply under control
Spot flow data continued to support broader recovery expectations despite the recent rise in prices. Net inflows recorded a negative amount of $139.67K on July 27, indicating that more UB exchanges left than entered.
This pattern reduced spot selling pressure on the exchange because token holders would rather move the tokens away from trading venues than prepare them for sale.
Although recent outflows have remained modest compared to previous highs, they are still in line with the improving market structure seen throughout July.
Buyers also absorbed the available supply without causing unusually large exchange rate outflows. As a result, exchange balances remained relatively under control while demand strengthened.
This combination reinforced the idea that Spot participants supported the rally rather than effectively distributing their holdings.
Can UB finally regain higher resistance?
Unipas It approached the key resistance level at $0.150 after continuing its recovery from the July low near $0.0665. The daily chart showed that buyers are consistently making higher lows before challenging the general resistance again.
The Relative Strength Index rose to 66.90 while remaining below the overbought threshold, reflecting strengthening buying power without indicating exhaustion.
This indicator also remained above its moving average near 55.47, confirming that buyers maintain control in the near term.
A decisive close above $0.150 is likely to expose the next major resistance around $0.200. However, failure to sustain this breakout attempt may encourage profit taking towards the first support at $0.1139.
If selling pressure intensifies beyond this level, the price will likely return to the stronger demand area around $0.0665 before another sustained recovery attempt develops.
Final summary
- UB attracted stronger buying interest as exchange outflows continued, limiting spot selling pressure.
- Rising open interest and improving RSI have positioned the $0.150 level as the next crucial breakout level.
