---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
UNI/USDT: Direct recovery expected
Context - The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets UNI suffered about negative global market situation - UNI is expected to bounce from the current bottom area and triggered the bullish divergence on RSI
Market configuration
- Graphical Elements : Graphical Resistance = 13,20 & 45,20 Graphical Support = 1,75
- Mathematical Indicators: EMA ( Exp Moving averages) are being reintegrated = bullish RSI indicator (below) is on going divergence but still below 50% = Neutre/bullish
- Elliot & Harmonic Wave (Fibonacci): Fibonacci Target 5 (C) B is set at = 3,00 Fibonacci resistance of the wave in progress = 7,95 Fibonacci support of the wave 5 (C) B(max extension) = 1,75 Fibonacci Bullish Target = 13,20
Conclusion
Preferred case => Regarding the mid-term element, UNI is expecting to do a bullish reversal from the area we are now. We are bullish above 3,00 towards 13,20 with an intermediate level at 7,95. the ATH is set at 45,20 Alternative case => Breaking 3,00 direct drop to 1,75