Today's analysis is about UNIUSDT on 1D timeframe.
UNI is the governance token for Uniswap, just like BNB is for Binance exchange. But UNI has shown about 2800% gains in just 7 months. Uniswap is a decentralized exchange (DEX) that makes it easy for users to swap an ERC-20 token for another ERC-20 token without the need of a centralized intermediary.
Let's talk about the analysis now.
It seems like UNI is range bound for now trading between $20 and $30, and accumulating further. We can see immediate support at about $25, as it has already tried to break the above range three times, hence Triple Top. I am using a ghost feed to show the price projection for both scenarios, if the price holds the immediate support level and breaks the immediate resistance, UNI is going to see another leg upward in the free zone. On the other hand, if price breaks the immediate support level, it might see a downtrend.
I have a bullish bias as I can see a hidden volume bullish divergence, and also MACD is flat but MACD line might crossover signal if volume increases.
Daily analysis gives long term trade ideas, where investors hold their positions for weeks or even months.
I would say, if it breaks the resistance with good volume and also if MACD line and signal line crosses over with a good percentage, it's a good idea to buy some UNI or go LONG on it.
Not a financial advise, DYOR and follow us for more ideas.
HAPPY TRADING
UNI is the governance token for Uniswap, just like BNB is for Binance exchange. But UNI has shown about 2800% gains in just 7 months. Uniswap is a decentralized exchange (DEX) that makes it easy for users to swap an ERC-20 token for another ERC-20 token without the need of a centralized intermediary.
Let's talk about the analysis now.
It seems like UNI is range bound for now trading between $20 and $30, and accumulating further. We can see immediate support at about $25, as it has already tried to break the above range three times, hence Triple Top. I am using a ghost feed to show the price projection for both scenarios, if the price holds the immediate support level and breaks the immediate resistance, UNI is going to see another leg upward in the free zone. On the other hand, if price breaks the immediate support level, it might see a downtrend.
I have a bullish bias as I can see a hidden volume bullish divergence, and also MACD is flat but MACD line might crossover signal if volume increases.
Daily analysis gives long term trade ideas, where investors hold their positions for weeks or even months.
I would say, if it breaks the resistance with good volume and also if MACD line and signal line crosses over with a good percentage, it's a good idea to buy some UNI or go LONG on it.
Not a financial advise, DYOR and follow us for more ideas.
HAPPY TRADING
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.