Chart Analysis: The Uniswap (UNI/USDT) chart is currently presenting a potential bullish setup with strong support levels in the range of $12.5 - $13.5 and $9.2 - $10. Given these support zones, we anticipate a solid reversal towards a potential price target of $39 - $40.
Key Levels to Watch:
Support Level 1: $12.5 - $13.5
This zone has historically shown resilience and could provide an ideal entry point for a bounce higher. If the price dips into this range and starts to show signs of consolidation or bullish reversal signals (like candlestick patterns or momentum indicators), it might present a favorable risk/reward ratio for long positions.
Support Level 2: $9.2 - $10
This is a secondary support zone, where price could be tested before making a more significant rebound. Should the price reach this level, it could offer an even better entry point with a higher risk/reward setup.
Bullish Target: $39 - $40
The long-term price target is in the $39 - $40 region, where we anticipate a significant price move. This target is based on previous resistance levels, technical projections, and the overall market sentiment towards UNI.
Trade Setup:
Entry: Look for confirmation at either of the support zones mentioned above. A bullish reversal pattern (e.g., a hammer candle, engulfing pattern, or RSI divergence) could confirm an entry.
Target: The main target is the $39 - $40 range.
Stop-Loss: Below the support zones, depending on where you enter.
Conclusion:
UNI/USDT has the potential to make a strong move up if it holds key support levels. With clear entry points at $12.5 - $13.5 and $9.2 - $10, traders can position themselves for a move toward the $39 - $40 area, following a risk-managed approach.
Key Levels to Watch:
Support Level 1: $12.5 - $13.5
This zone has historically shown resilience and could provide an ideal entry point for a bounce higher. If the price dips into this range and starts to show signs of consolidation or bullish reversal signals (like candlestick patterns or momentum indicators), it might present a favorable risk/reward ratio for long positions.
Support Level 2: $9.2 - $10
This is a secondary support zone, where price could be tested before making a more significant rebound. Should the price reach this level, it could offer an even better entry point with a higher risk/reward setup.
Bullish Target: $39 - $40
The long-term price target is in the $39 - $40 region, where we anticipate a significant price move. This target is based on previous resistance levels, technical projections, and the overall market sentiment towards UNI.
Trade Setup:
Entry: Look for confirmation at either of the support zones mentioned above. A bullish reversal pattern (e.g., a hammer candle, engulfing pattern, or RSI divergence) could confirm an entry.
Target: The main target is the $39 - $40 range.
Stop-Loss: Below the support zones, depending on where you enter.
Conclusion:
UNI/USDT has the potential to make a strong move up if it holds key support levels. With clear entry points at $12.5 - $13.5 and $9.2 - $10, traders can position themselves for a move toward the $39 - $40 area, following a risk-managed approach.
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.
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.