Priceline of UNI token has broken down all SMAs on 4-hour chart with the time period of 25, 50, and 100.
The price action is moving in a and making a strong attempt to break out. In order to change the trend from down to up we need a breakout from this channel first.
On the are moving below the 10 and 21. Once the price action will be closed above these two EMAs and the 10 will form a bull cross with 21 then a strong rally can be started:
The priceline of Uniswap has formed on the as below:
the targets as per Fibonacci sequence of are:
Potential reversal or buying zone: $3.92 to $2.64
or Potential sell zone: $4.94 to 7.42
We don’t have sufficient indicators and moving averages available for Uniswap because it is new token. Therefore this analysis is maximum based on patterns. We should use the maximum extent of potential reversal zone of as stop loss because if this PRZ level will be broken down then the price action can move more down for the completion of move.