Uniswap (UNI) technical analysis
UNI loves making harmonic patterns and triangle moves. After each triangle or harmonic pattern ended, price has started an uptrend wave. It is possible that UNI would make another two or three triangles or harmonic patterns before breaking the long-term down trend line and poses for a major uptrend move. These are all valid if the horizontal support area holds in the future as well.
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When UNI broke the horizontal support zone it was telling us it will drop even further, clearly. Now, we can see price has been oscillating in a symmetrical triangle for a while and also the corrective wave seems ended around 0.786 Fibonacci retracement. So, if the downtrend line and the triangle pattern break, the next uptrend wave could start. Let's see what happens.
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UNI broke the major downtrend line, made a pullback and is going up.
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So, UNI went up and also broke the minor triangle pattern's upper line. Then UNI made a correction and pulled back on the broken line. It seems UNI is almost ready for the next upward wave. Let's see what happens.
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So, UNI made a pullback on the broken line and is going up.
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So, UNI went up and reached the major horizontal area, a big one, but couldn't break it. As a result, correction started and UNI came down. It seems UNI is going up again toward the major horizontal area. Let's see if UNI can break it this time or not.
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So, it seems UNI is oscillating in a sideways triangular pattern. Have to wait and see when UNI breaks this pattern. Let's see what happens.
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So, UNI broke the minor downtrend line and is going up. Let's see if UNI can break the major horizontal area or not.
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