UNI analysis of the 4-hour time frame
The price is now 6.02 dollars and it is exactly on our yellow trend line.
If the trend line breaks down, we have the support of $5.5, which is exactly at our 618 Fibonacci. When we can say that we have a downward trend change, the lower support, which is exactly at 78 Fibonacci, will be broken, which in case of our failure will be at the price of 4.46. We will reach the dollar and even lower than that.
The bullish scenario should be supported from this point and go up to the resistance of 6.56.
Technical analyst: Amir Hassan Salek
The price is now 6.02 dollars and it is exactly on our yellow trend line.
If the trend line breaks down, we have the support of $5.5, which is exactly at our 618 Fibonacci. When we can say that we have a downward trend change, the lower support, which is exactly at 78 Fibonacci, will be broken, which in case of our failure will be at the price of 4.46. We will reach the dollar and even lower than that.
The bullish scenario should be supported from this point and go up to the resistance of 6.56.
Technical analyst: Amir Hassan Salek