$UNI Tumbles Almost 9% After Uniswap Delays "Fee switch" Vote 📉
The Protocol Upgrade vote that took place today saw the postponement of a proposal upgrade vote that would have allowed rewards for UNI holders who staked and delegated their tokens.
After this news was public the project's native token Uni saw a decline of nearly 9% and was trading at just above $10 at the time of writing.
Though this unexpected delay has certainly dented the investor's sentiment, bearish structure has started to appear in the token's price but it seems to be a temporary phase and may fade away soon.
Just a reminder to keep an eye on support levels. Staying above $10 is crucial to keep the price stable, but in any opposite scenario the next support levels are at $9.5 followed by $9.
*This is not investment advice. Please do your own research before taking any trade.
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