UNIUSD vs ETHUSD Price Relationship: Long Position
Updated
Uniswap's price is closely related to Ethereums price, but UNIUSD often has a slight lag in price changes in relation to ETHUSD.
Recently ETH has made big gains on the 1D chart reaching previous high levels with indicators showing signs of being overbought; whereas UNIUSD, although making gains recently, is still showing signs of being oversold on the 1D timeframe with the potential for big profit with a well timed long position.
If UNIUSD were to reach previous high levels conservative targets would be ~$37.
Recently ETH has made big gains on the 1D chart reaching previous high levels with indicators showing signs of being overbought; whereas UNIUSD, although making gains recently, is still showing signs of being oversold on the 1D timeframe with the potential for big profit with a well timed long position.
If UNIUSD were to reach previous high levels conservative targets would be ~$37.
Trade closed: target reached
Since 2nd April 2021 price reached my conservative target of $37 and surpassed it peaking at ~$48 on 5th May 2021.Congratulations to those who caught this trade.
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