UNI Bearish Channel Setup
UNI has been trading inside a long-term descending channel on the weekly chart, with price repeatedly respecting the boundaries while forming an ascending broadening wedge inside the larger bearish structure.
The recent breakdown from the wedge is pointing toward completion of the descending channel, with the projected bottom target sitting at $1.284. Immediate resistanceI remains near the lower boundary of the ascending wedge around $5.48 on any pullback.
Will UNI reach the channel bottom or find support earlier? What’s your target for UNI? Drop your thoughts below.
UNI
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