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DynamixHodlr
Apr 2, 2021 12:52 PM

UNIUSD vs ETHUSD Price Relationship: Long Position Long

UNI / US DollarBinance

Description

Uniswap's price is closely related to Ethereums price, but UNIUSD often has a slight lag in price changes in relation to ETHUSD.

Recently ETH has made big gains on the 1D chart reaching previous high levels with indicators showing signs of being overbought; whereas UNIUSD, although making gains recently, is still showing signs of being oversold on the 1D timeframe with the potential for big profit with a well timed long position.

If UNIUSD were to reach previous high levels conservative targets would be ~$37.

Trade closed: target reached

Since 2nd April 2021 price reached my conservative target of $37 and surpassed it peaking at ~$48 on 5th May 2021.

Congratulations to those who caught this trade.
Comments
Hulaj
hodl?
DynamixHodlr
@Hulaj Depends what your goals are if you want to invest long term without much input then as a long term hold I think it's a good bet with big gains to be had. If you want to trade with leverage short term then imo it's a pretty good long position, but please DYOR as I can't offer financial advice.
inh
considering how UNI moves in relation to ETH, where will UNI be if ETH reaches $3000(?)
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