Crypto has been on a general down-trend the last couple of days. In the last hour or two we've seen a temporary increase in the cryptos I've looked at but I'm not seeing volume to support the uptrend. In particular, I've been following UNFI in particular (main chart) and it looks like there's some buy/sell algorithms oscillating generally between the hour chart...
This is great and even exciting at times, looking at these charts... You will be able to appreciate what I am talking about a few weeks into the future, it will be awesome.
Unifi Protocol DAO (UNFIUSD) leaves no room for doubt, this chart is ultra-bullish.
Currently this pair is trading above EMA50/21/10.
It is trading above its November 2022 low.
It...
If you squint real hard you can see slight ascending pattern, the depth chart is starting to level out on buy/sell orders, money flow on the rise and macd still in the green on daily. Let me know your thoughts in the comments as im truly open to others opinions and experience.
Hey traders! 📈📊 Exciting updates on the $UNFI:USDT chart. 🚀 It seems a descending triangle pattern could be forming. 📉 This pattern features a horizontal support line and a series of lower highs, indicating potential downward pressure.
📌 Symbol: $UNFI:USDT
📅 Timeframe: Weekly
📊 Chart Pattern: Descending Triangle
🔍 Pattern Description: The descending triangle...
The lack of RSI divergence, and price action holding below broken support (now resistance), gives us the higher probability of a new lower low before a higher high.
The pullback I mentioned previously barely reached 38.2% and price broke down again.
We´re currently making a small correction to the upside, but I expect further drops, to test the 3.50-ish support (gray zone).
This analysis invalidates at 5.485.
Unifi Protocol DAO aims to create the next class of blockchain, built on the principle of economic sustainability. Using stablecoins in lieu of blockchain transaction fees.
Currently, UNFI has failed to form a Rising Wedge (Bearish) and is confirmed to have experienced a reversal. With the confirmation of the breakout, UNFI has the potential to increase by 23.45%...
UNFI trade closed in profits at $10.60 Today
Trade successful
Entry was at $8.86
See my previous Unfi analysis on
my tradingview profile on 9 AUG 2022
Regards
UNIFI is practically the only alt above its weekly moving averages and has just broke on the weekly chart. This would be the only alt I would hold without taking any out on a push. This is a phenomenal long term buy as there is support under price and should hold an up trend pushing highs on every crypto market bounce.
