Cup handle on UNI. Have starter position on now, will add to on break, retest of resistanct level. Stop/targets are marked on chart. Will take some profits off at target and let rest ride in case this is continuation of uptrend.
Long UNIUSD -25.8933
Stop Loss - 21.078
Take Profit - 35.523
Hold for about a week, close out in 3-4 days if trade goes in your favour and price has started idling.
If price has moved against you, but has not hit SL, leave the trade open unless you need the cash for another trade.
Uniswap was a real pump coin early on but since February its not done much. Looking for an 80% drop back to 0.5 log fib if it tops in this area. It may pootle up to $60 or so but it will crash shortly as the Bitcoin Titanic plunges into the abyss once again. Target is modest, price may go much lower.
Just plotting a comparison candle chart of Uniswap vs Cake. So its a UNICAKE chart.
And would you look at that, it's dead! Some have been saying Uniswap is losing steam, but if you look here, it's been dead for a while now...
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(UNIUSD 1D chart)
You should watch for any movement that deviates from the 22.11036180-28.836657176 section.
In order to turn to an uptrend, it must rise above the 35.56278172 point...
UNI is currently trading close to the resistance zone at $36.40. It has a good support at $31.69. If UNI can break the resistance at $36.40 and flip it to support, we could start seeing a move towards $39.25, $41.56 and $44.44. The resistance at $44.44 is an important one. If UNI can break this resistance and flip it to support, we could start seeing a much higher...
As I mentioned in my previous uni post, if it drops to this level, it's a good buy. the only negative thing that I can see is that it's at the top of the channel in the BTC UNI trading pair this might indicate a breakout. Alts have become more and more disconnected from bitcoin over the past week so.