UNIUSDT trade ideas
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Hello everyone👋
On the daily chart, the price of UNI has formed a descending triangle formation, the asset is almost at the very bottom and, if the MM is successfully bought out, it will give a good percentage of the deposit.
I will consider the project as a long-term one.
UNIUSDT Short PositionThe price has been swinging in a range box for the past 7 days and now the rejection from the upper edge of the box is happening simultaneously with the rejection from the mid-term descending trendline. In addition, there is a hidden divergence in the RSI oscillator while the price did not manage to make a new HH.
Having said that, the price might be seen at around $3.5 again in the next few days.
DO YOUR OWN ANALYSIS.
DO NOT FORGET MONEY MANAGEMENT.
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UNI/USDT: Direct recovery expected---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
UNI/USDT: Direct recovery expected
Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets UNI suffered about negative global market situation
- UNI is expected to bounce from the current bottom area and triggered the bullish divergence on RSI
Market configuration
- Graphical Elements :
Graphical Resistance = 13,20 & 45,20
Graphical Support = 1,75
- Mathematical Indicators:
EMA ( Exp Moving averages) are being reintegrated = bullish
RSI indicator (below) is on going divergence but still below 50% = Neutre/bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target 5 (C) B is set at = 3,00
Fibonacci resistance of the wave in progress = 7,95
Fibonacci support of the wave 5 (C) B(max extension) = 1,75
Fibonacci Bullish Target = 13,20
Conclusion
Preferred case => Regarding the mid-term element, UNI is expecting to do a bullish reversal from the area we are now. We are bullish above 3,00 towards 13,20 with an intermediate level at 7,95. the ATH is set at 45,20
Alternative case => Breaking 3,00 direct drop to 1,75