UNI / TetherUSLong
Uniswap maintains its upward consolidation
Even after the lackluster v3 release, Uniswap only had a relatively minor sell-off where it just barely dipped into the previous weekly resistance which is now acting as a good support.
As a result of the issues surrounding the release Uni has underperformed compared to expectations, but I have a feeling this will not affect its long-term trajectory, which is up.
What I'm seeing here on the weekly is bullish upward consolidation - much like we saw in Fantom a couple of months ago before its epic run from around .14 to .87.
I can see this easily exploding soon. But we need more volume.
Drawing fibs on this one is proving to be tricky due to its continuous upward channel oscillations. If someone can help me with this I would be grateful.
Drawn from the current high, we have...
-Local .272 bullish extension target for UNI is 50.2
-We have a secondary target at 71.8
-We have a third target of 115
-And finally I do believe we will eventually hit 158.3. Especially if we get a breakout from the channel with strong and increasing volume.
Short-term bearish targets for UNI are:
-Any return to the bottom of the channel
-Weekly support between 27.5 and 28.5 (also extremely high volume in that range)
-A .618 retracement zone around 18 (also the weekly close of the second highest combined volume week since it was trading below 5)
If you enjoy my work: like, subscribe and/or comment! I want to keep improving and you motivate me to keep going. :)
As a result of the issues surrounding the release Uni has underperformed compared to expectations, but I have a feeling this will not affect its long-term trajectory, which is up.
What I'm seeing here on the weekly is bullish upward consolidation - much like we saw in Fantom a couple of months ago before its epic run from around .14 to .87.
I can see this easily exploding soon. But we need more volume.
Drawing fibs on this one is proving to be tricky due to its continuous upward channel oscillations. If someone can help me with this I would be grateful.
Drawn from the current high, we have...
-Local .272 bullish extension target for UNI is 50.2
-We have a secondary target at 71.8
-We have a third target of 115
-And finally I do believe we will eventually hit 158.3. Especially if we get a breakout from the channel with strong and increasing volume.
Short-term bearish targets for UNI are:
-Any return to the bottom of the channel
-Weekly support between 27.5 and 28.5 (also extremely high volume in that range)
-A .618 retracement zone around 18 (also the weekly close of the second highest combined volume week since it was trading below 5)
If you enjoy my work: like, subscribe and/or comment! I want to keep improving and you motivate me to keep going. :)
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