"UNI Analysis: Breaking Trends and Setting Triggers"
💹 Let's dive into the analysis of UNI, the token of one of the top decentralized exchanges. We'll review our past analysis, update it, and identify new entry triggers together.
🎉 Channel Milestone: 500 Followers:
Thank you all for helping this channel reach 500 followers! Our next goal is 1,000 followers. Let's keep growing together!
🌟 Previous Analysis Recap:
In our last two analyses, we followed this coin closely. In the most recent analysis, after forming a range box, we anticipated a breakout from either side. After a fake breakdown at the 6.867 support level and positive news countering SEC actions, we witnessed a breakout above the 8.224 resistance and subsequent upward movement.
📅 Weekly Timeframe:
After breaking out of the range and moving towards 14.420, UNI corrected due to SEC’s lawsuit against the decentralized exchange, which reversed the entire move. However, recent developments and the exchange’s strength have led to a series of bullish candles. Volume increased after the breakout, and during the two corrective candles, volume decreased. The latest candle shows significant buying strength, suggesting potential for a bullish position with a stop loss below the shadow.
📰 Daily Timeframe:
Following the breakout at 8.167, UNI experienced a bullish move but is currently facing resistance at 11.616. Multiple attempts to break this resistance have been met with high volume, and during corrections, the volume decreased, indicating persistent buying interest.
A notable point is the adjustment of our key support/resistance levels. Previously, we had 10.459 as a support-turned-resistance, but lack of significant reaction at this level led us to adjust it to 11.616, where price has reacted multiple times.
⏰ 4-Hour Timeframe:
UNI is ranging between 8.911 and 11.616, showing a bullish bias. An increase in volume and RSI entering the overbought zone could signal potential entries.
Regarding RSI usage: I use RSI in conjunction with trend analysis. In an uptrend, I consider overbought entries and disregard oversold signals. Recently, I noticed that in an uptrend, when RSI enters and exits the oversold zone, it can be a strong entry point for long positions. If you've experienced this, share your thoughts in the comments.
📈 Long Position:
Consider entering with the current 4-hour candle or wait for a breakout above the key resistance at 11.616 with increasing volume.
📉 Short Position:
Other market coins might be better suited for short positions, as UNI is moving against Bitcoin and Ethereum. If considering a short, wait for a breakdown below 9.751.
💡 For buying, I will personally consider a stop buy above the weekly candle after it closes. The next trigger for purchasing would be a breakout above the significant resistance at 14.534. Always ensure to review the project fundamentals and community updates.
🔍 Support and Resistance Levels:
Support: 9.751, 8.911, 8.167
Resistance: 11.616, 13.247, 14.534
🌐 DeFi and Uniswap Discussion:
The recent SEC actions focus on DeFi and decentralized trading, highlighting the crypto's nature of operating beyond governmental oversight. In DeFi, besides trading UNI, you can participate in Uniswap by providing liquidity or setting up buy/sell walls, earning fees from trades made by others.
🕰️ For these activities, visit Uniswap’s website and use the pool section to create buy/sell walls. I will provide a detailed guide in the future. Note that a narrower price range results in higher fees earned. Below is an example of the highest 24-hour fees on Uniswap.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🎉 Channel Milestone: 500 Followers:
Thank you all for helping this channel reach 500 followers! Our next goal is 1,000 followers. Let's keep growing together!
🌟 Previous Analysis Recap:
In our last two analyses, we followed this coin closely. In the most recent analysis, after forming a range box, we anticipated a breakout from either side. After a fake breakdown at the 6.867 support level and positive news countering SEC actions, we witnessed a breakout above the 8.224 resistance and subsequent upward movement.
📅 Weekly Timeframe:
After breaking out of the range and moving towards 14.420, UNI corrected due to SEC’s lawsuit against the decentralized exchange, which reversed the entire move. However, recent developments and the exchange’s strength have led to a series of bullish candles. Volume increased after the breakout, and during the two corrective candles, volume decreased. The latest candle shows significant buying strength, suggesting potential for a bullish position with a stop loss below the shadow.
📰 Daily Timeframe:
Following the breakout at 8.167, UNI experienced a bullish move but is currently facing resistance at 11.616. Multiple attempts to break this resistance have been met with high volume, and during corrections, the volume decreased, indicating persistent buying interest.
A notable point is the adjustment of our key support/resistance levels. Previously, we had 10.459 as a support-turned-resistance, but lack of significant reaction at this level led us to adjust it to 11.616, where price has reacted multiple times.
⏰ 4-Hour Timeframe:
UNI is ranging between 8.911 and 11.616, showing a bullish bias. An increase in volume and RSI entering the overbought zone could signal potential entries.
Regarding RSI usage: I use RSI in conjunction with trend analysis. In an uptrend, I consider overbought entries and disregard oversold signals. Recently, I noticed that in an uptrend, when RSI enters and exits the oversold zone, it can be a strong entry point for long positions. If you've experienced this, share your thoughts in the comments.
📈 Long Position:
Consider entering with the current 4-hour candle or wait for a breakout above the key resistance at 11.616 with increasing volume.
📉 Short Position:
Other market coins might be better suited for short positions, as UNI is moving against Bitcoin and Ethereum. If considering a short, wait for a breakdown below 9.751.
💡 For buying, I will personally consider a stop buy above the weekly candle after it closes. The next trigger for purchasing would be a breakout above the significant resistance at 14.534. Always ensure to review the project fundamentals and community updates.
🔍 Support and Resistance Levels:
Support: 9.751, 8.911, 8.167
Resistance: 11.616, 13.247, 14.534
🌐 DeFi and Uniswap Discussion:
The recent SEC actions focus on DeFi and decentralized trading, highlighting the crypto's nature of operating beyond governmental oversight. In DeFi, besides trading UNI, you can participate in Uniswap by providing liquidity or setting up buy/sell walls, earning fees from trades made by others.
🕰️ For these activities, visit Uniswap’s website and use the pool section to create buy/sell walls. I will provide a detailed guide in the future. Note that a narrower price range results in higher fees earned. Below is an example of the highest 24-hour fees on Uniswap.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
