Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-07-05 08:12:20

UNI Technical Analysis: Buyers Prepares A Jump To $8

UNI price action shows an inverted head and shoulder pattern with a neckline at $5.90, teasing a breakout rally to reach $8. Key technical points: The UNI market price action shows an inverted head and shoulder pattern. The market price surpasses the 50-day SMA. The 24-hour trading volume of Uniswap is $104 Million, indicating a rise of 63%. Past Performance of UNI The retracement rally in UNI prices from the $5.90 mark takes bullish support at $4.5, resulting in an 8.7% jump yesterday. The bullish Reversal attempts to complete the inverted head and shoulder pattern with the neckline at $5.90. Additionally, the reversal rally surpasses the 50-day SMA increasing the likelihood of a bullish breakout. Source- Tradingview UNI Technical Analysis UNI price Actions showcased a fall in trading volume during the retracement phase, but the recent price jump comes with a boom in trading volume. Hence the traders can expect the breakout rally to reach the overhead resistance at the 100-day SMA at $6.75. The MACD indicator showcases the fast and slow lines sustaining about the zero line in maintaining a bullish trend. Moreover, the bullish trend in MACD histograms resurfaces, displaying a rise in buying pressure. The RSI indicator Showcases a rise in the underlying bullishness as the slope sustains about the halfway line and surpasses the 14-day SMA. Moreover, the bullish divergence in the RSI indicator is pretty evident, which increases t...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.