Critical $8 Support Could Propel UNIUSD to $23
COINBASE:UNIUSD is currently showing a bullish bias supported by the EMA ribbon, which remains aligned upward. The price action appears to be reacting strongly within the 61.8%-67% Fibonacci retracement zone, a key area for potential reversals. Recently, a significant swing (BOS) broke past the resistance level of $8, which now acts as an important support zone.
The Signal Builder has previously confirmed bullish signals, aligning with the overall upward trajectory. Traders might consider two potential strategies: looking for a pullback to the $8 support level for accumulation, or waiting for further confirmation through a bullish engulfing candle or a breakout of a recent swing high. If these conditions are met alongside the breakout of the descending trendline, the next major resistance target is set at $23, offering a solid price objective.
👨🏻💻💭 What are your thoughts on UNIUSD's potential to reach $23? Let’s discuss!
__
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.
