# Analysis of the trading pair $UNI /USDT
## Analysis of Japanese candlestick patterns
*At the beginning of the chart (late September)** a long bearish candlestick pattern appeared at the level of 10.342 - a sign of strong selling pressure - a strong signal
*In mid-October** a series of rising green candles formed around the price of 5.500 - an attempt to recover after the sharp decline - a moderate signal
*At the end of October** a doji pattern appeared at approximately 4.500 - market indecision and potential trend reversal - a weak signal
*In early November** consecutive green candles formed with increased trading volume - the beginning of a strong uptrend - a very strong signal
*In mid-November** a large long green candle appeared from 5.337 to about 9.263 - strong buying momentum - a strong signal
*In the recent candles** consecutive red candles appeared with upper shadows - selling pressure after the strong rise - a medium signal
## Technical Indicator Analysis
*MACD Indicator**: The indicator shows a clear positive shift as the MACD line (0.132) is above the DEA signal line (0.194), indicating bullish momentum. The histogram shifts from red to green, confirming a change in trend towards bullish.
*Trading Volume**: increased significantly during the recent bullish period, supporting the strength of the bullish trend.
## Identifying Support and Resistance Levels
*Resistance Levels**:
- Strong Resistance: 9.200 (last peak)
- Medium Resistance: 8.000 (previous correction area)
- Near Resistance: 7.800 (current level)
*Support Levels**:
- Near Support: 7.200 (last bounce low)
- Medium Support: 5.300 (previous accumulation area)
- Strong Support: 4.500 (low in late October)
## Overall Technical Assessment
The UNI/USDT pair shows a clear pattern of sharp bearish correction in late September, followed by a period of accumulation and correction, then a strong bullish surge in early November. This rise was accompanied by an increase in trading volumes, confirming the strength of the new bullish trend. The MACD indicator supports this bullish trend with a positive crossover and a histogram shift.
## Summary
The price is currently in a normal corrective phase after the strong rise it experienced in early November. Traders can monitor the nearby support level at 7.200, as it may present a good buying opportunity if positive market conditions continue. However, caution should be exercised regarding potential volatility, especially with the appearance of red candles in the recent candles. It is advisable to place stop-loss orders below the nearby support level to protect against any sudden drop.
