UNI, Uniswap - what to do?The price has a strong key level of 45,02(ATH). And the price has already tested for the second time. Now I'm waiting for a sell-through, breakout, retest, and move up! The entry point after the retest) Do not forget about SL
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
UNI
$UNI/BTC near the first targets$UNI token has been steadily progressing through the first fib set, slowly nearing the 2.618, aka first high target.
Although the chart is showing some signs of retrace there is not all too much indications in the favor of the same.
Volume is pretty low on the red candles which doesn't indicate a major retrace
Preparing for possible retraces is important thou,
Each of the fiblines ,1.0, 0.764, 0.618 and the 0.5 are potential support levels in case of a shorter term retrace.
If the chart starts showing weakness and breaking through the support levels with ease I expect the 0.236 fibline to provide much harder support and play a role as a new local low and reversal point for further uptrend
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Filling the GAP is inevitable, but are we continuing to go up?Well well, BTC is coming back strong to test that old support as a resistance now, Since we are over the 8 weekly MA we could continue to go up,
or that resistance could send us back down again to touch the 21 Weekly MA before going up again, or maybe even lower if things go bad.
But with all that institutional money coming in we have to stay strong and wait for another break on the 8 Weekly MA,
if that happens it will be the time to close positions.
Also, it Alts time right now, so stay alert for eventual pull backs, but for now Alts are in the bullish direction, don´t loose that opportunity.
#UNIusdt #UNIFundamental information/knowledge:
What is UNI in Crypto market?
BINANCE:UNIUSDT
#Uniswap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that are decentralized, running open-source software, as opposed to any centralized intermediary.
The market capitalization for the UNI token is over $21,901,869,001 million as of April 2021, and UNIswap rank is #9 based on Coinmarketcap.com.
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Basically, Red horizonal lines are my two target point on UNI and we can reach easily if BTC keep increase price on the market.
$4.7
$5.4
are my two target point.
But interestingly, UNIswap break up Daily Trend line as u can see which is a significant increase in Uniswap market...
I have a question for you guys...I am not bearish right now, but I think BTC could be stopped at the 59k GAP.
And maybe we could keep testing lower lows to maybe fill that 24k GAP.
It`s just an hypothesis, everything could happen, but If that happens I want to be prepared.
So, my question is, out of those gaps, which one you would consider as a strong magnet to get filled in case we have another long leg downwards?
Uniswap ready to explode higherAfter the Coinbase IPO, Ethereum and DeFi have gotten a boost again. My belief is that many of the people on Coinbase are big on Ethereum, but also we've exhausted most narratives. We've gone full circle and back into Ethereum and DeFi again. Despite the crash Ethereum recovered quickly and recovered fully which I think was a bit surprising, but the ETHBTC chart and UNIBTC charts are explosive.
With V3 coming for Uniswap, the expansion to other chains or second layers, as well as its complete dominance over other DEXs... Uniswap could be heading for a massive boom. This could be seen as a massive cup and handle pattern and I think that my target is probably the first one and the upside is even larger.