๐ UNI/USDT: End of the drop and reversal signal in sight?
The $UNI is showing some interesting stabilization signs after a heavy correction period. Let's take a closer look at what the charts are telling us on the daily timeframe (1d).
๐ Technical Analysis (1D)
Major Support Zone: The price has found a solid low around 2.316 USDT. This zone has served as a trampoline to initiate the current bounce.
Current Price: 2.591 USDT (+3.68%). The token is trying to break free from its short-term bearish trend.
Moving Averages (MA): The price is currently testing the MA(7) yellow line (located at 2.621). A clear break and close above this line would open the way towards MA(25) at 3.127, then MA(99) at 3.405.
MACD Indicator: The bars of the bearish count are starting to weaken (the red rectangles are emptying). The selling momentum is fading, which often precedes a bullish crossover of the DIF and DEA lines.
๐ฏ Scenarios to Watch
Bullish Scenario: Confirmed close above 2.620 USDT. Short/medium-term targets: 2.850 USDT then the psychological resistance of 3.150 USDT.
Bearish Scenario: If the MA(7) rejects the price, a return to the support at 2.316 USDT is possible to consolidate a double bottom.
My opinion: The buying volume (green bars at the bottom) is increasing in the last sessions. The risk/reward ratio (R:R) is starting to look very attractive for spot buyers.
๐ฌ And you, what's your plan on Uniswap? Are you accumulating or waiting for confirmation? Let me know in the comments! ๐
Don't forget to like and subscribe so you don't miss any upcoming analysis! ๐
#UNI #Uniswap #BinanceSquare
The $UNI is showing some interesting stabilization signs after a heavy correction period. Let's take a closer look at what the charts are telling us on the daily timeframe (1d).
๐ Technical Analysis (1D)
Major Support Zone: The price has found a solid low around 2.316 USDT. This zone has served as a trampoline to initiate the current bounce.
Current Price: 2.591 USDT (+3.68%). The token is trying to break free from its short-term bearish trend.
Moving Averages (MA): The price is currently testing the MA(7) yellow line (located at 2.621). A clear break and close above this line would open the way towards MA(25) at 3.127, then MA(99) at 3.405.
MACD Indicator: The bars of the bearish count are starting to weaken (the red rectangles are emptying). The selling momentum is fading, which often precedes a bullish crossover of the DIF and DEA lines.
๐ฏ Scenarios to Watch
Bullish Scenario: Confirmed close above 2.620 USDT. Short/medium-term targets: 2.850 USDT then the psychological resistance of 3.150 USDT.
Bearish Scenario: If the MA(7) rejects the price, a return to the support at 2.316 USDT is possible to consolidate a double bottom.
My opinion: The buying volume (green bars at the bottom) is increasing in the last sessions. The risk/reward ratio (R:R) is starting to look very attractive for spot buyers.
๐ฌ And you, what's your plan on Uniswap? Are you accumulating or waiting for confirmation? Let me know in the comments! ๐
Don't forget to like and subscribe so you don't miss any upcoming analysis! ๐
#UNI #Uniswap #BinanceSquare