MonoCoinSignal

Strength of buyers and buying pressure

BINANCE:UNIUSDT   UNI / TetherUS
UNI had a good price increase last week. Consecutive ascending candles, each closed above the previous candle, can signify the strength of buyers and buying pressure. A range channel was drawn on the chart in the previous analysis, which we expected to break from the bottom. This happened, but because there was an important support in the range of the previous lows at the price of $5, it prevented further declines and moves as wide as the channel range. The rising wave that broke the resistance of the previous ceiling can change the trend in the 4-hour time frame. So with a high probability in case of price correction, we can expect support in the range of 5.10 to 5.14 dollars and a strong positive reaction from this range. However, closer support is considered in the range of $5.30-$5.38, which is less powerful but highly valid. Short-term targets are also considered in the range of $6.

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