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In this analysis, I’m going to review UNI, one of the most popular DEX projects within the Ethereum ecosystem, with a market cap of $4.93 billion, ranking 28th on CoinMarketCap.
📅 Daily Timeframe
This coin has shown a strong upward move reaching 11.449 and then started a correction. After the failure at this level, a downward move began.
🧩 An important support zone around $8.5 has formed, which after breaking, is now acting as resistance.
✅ During this downward movement, the volume has been decreasing. Despite having two down legs so far, it can be said that the overall trend for this coin is still bullish.
📊 For a long position, the first trigger we have is the break of the Maker Seller level. Breaking this level will remove a lot of selling pressure, which could cause a sharp upward move in price.
🛒 The spot trigger for UNI is at 11.449. I recommend opening a long position after breaking the level, and using the profits from that position to buy this coin when the spot trigger is activated.
💥 For a short position, the trigger is 7.447. If the price ranges a bit longer in this area and then breaks the low, it would make a great position. However, if the price breaks the level right now, it would be a risky trigger.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’m going to review UNI, one of the most popular DEX projects within the Ethereum ecosystem, with a market cap of $4.93 billion, ranking 28th on CoinMarketCap.
📅 Daily Timeframe
This coin has shown a strong upward move reaching 11.449 and then started a correction. After the failure at this level, a downward move began.
🧩 An important support zone around $8.5 has formed, which after breaking, is now acting as resistance.
✅ During this downward movement, the volume has been decreasing. Despite having two down legs so far, it can be said that the overall trend for this coin is still bullish.
📊 For a long position, the first trigger we have is the break of the Maker Seller level. Breaking this level will remove a lot of selling pressure, which could cause a sharp upward move in price.
🛒 The spot trigger for UNI is at 11.449. I recommend opening a long position after breaking the level, and using the profits from that position to buy this coin when the spot trigger is activated.
💥 For a short position, the trigger is 7.447. If the price ranges a bit longer in this area and then breaks the low, it would make a great position. However, if the price breaks the level right now, it would be a risky trigger.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.