TradeCityPro | UNI : Maintaining Bullish Momentum
2024-12-13
Category: None

👋 Welcome to TradeCityPro! 
In this analysis, I’m going to review the UNI coin. The Uniswap project is a decentralized exchange (DEX) with one of the highest Total Value Locked (TVL) in DeFi. It has a native token named UNI.

 📅 Daily Timeframe: Breakout of the Key High Wave Cycle Resistance 
On the daily timeframe, after the price first reached the 14.895 resistance level, it was rejected and entered a downtrend, eventually hitting the 5.591 support with a Selloff candle.

📈 Once the price reached this support, the market momentum gradually shifted, and after breaking through the 8.403 resistance, momentum turned fully bullish. Even the key resistance of 14.895 was surpassed, pushing the price to the 18.979 zone.

🔽 After initially reaching the 18.979 resistance, the price showed a corrective candle, retracing back to 14.895 as a pullback. Following this, the price rallied again to 18.979, maintaining its upward momentum.

📊 Throughout this upward movement, the volume has consistently confirmed the trend and shown convergence. Additionally, after breaking 8.403, the RSI oscillator entered the Overbuy zone, indicating the bullish momentum is intact.

🚀 If 18.979 is broken, the major resistance levels to watch are 28.968 and 43.088. While there are additional resistance zones along the way, these two hold greater significance.

 📉 Correction Scenario 
In the event of a correction, the first significant level is 14.895, which has already acted as a pullback zone once. A deeper correction could see the price revisiting the 8.403 support.

✨ If this level is broken, market momentum will likely turn bearish. In such a case, the 5.591 and 3.857 levels will serve as the final strongholds for UNI.

 📝 Final Thoughts

This analysis reflects our opinions and is not financial advice. 

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