Unibase's native token suffered its steepest single-day drop in days, falling 24% as the cryptocurrency slipped below a key moving average. Weakening funding rates and clusters of sell-side liquidity suggest the downturn may not be over yet.
Below the 20-Day EMA
The token broke decisively below its 20-day exponential moving average, a level that had previously acted as support during the recent uptrend. Losing that technical floor often invites additional selling as automated stop-losses trigger and momentum traders exit positions. The 20-day EMA is now likely to act as resistance on any attempted bounce.
Funding Rates and Liquidity Tell the Story
Funding rates — the periodic payments between long and short traders on perpetual futures — have weakened significantly. That means longs are paying less to keep their positions open, a sign that bullish conviction is fading. At the same time, downside liquidity clusters have formed below the current price, indicating where stop-losses and sell orders are concentrated. Sellers appear to be targeting those zones, which could drive the price even lower in the short term.
Traders are now watching whether the token can stabilize near its next support level or if the selling accelerates toward the liquidity cluster. The 24% drop is the sharpest correction in days, but without a catalyst to reverse sentiment, the path of least resistance remains lower. The next major test will be whether Unibase can reclaim the 20-day EMA or if selling pressure pushes it further down.
