UNI Technical Analysis: Are The Chances Of The Fall Continuation High?
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Given the rebound in the UNI price on the weekly timeframe, we allow the possibility of closing the trading week above the range of $5.4. In this case, the week of advice from 9 May can be considered the culmination and it will be a step towards the formation of a broad consolidation in the range of $5.4-$8.4. this consolidation will help buy out all sellers and generate positions to form a new growth wave. This positive scenario in the UNI market will take effect if buyers can take control of the $5.4 mark.
Technical Analysis Of UNI On The Daily Timeframe
Analyzing the movement of prices on the daily timeframe, it is difficult not to notice the abnormally high volumes from 9 May. Currently, the UNI price is trading below the liquidity zone. It is worth buying UNI with confidence only after breaking the $5.4 mark and the $6 test. After such a price maneuver, buyers are required to keep the mark of $5.4.
At the moment of the $5.4 mark retest it is possible to risk and buy UNI with the first target of $8.4. If the UNI price stops below $5.4 for a few daily candles, you need to prepare for a new fall wave. Even in this scenario, buyers will have a chance to reverse the total downward trend. But, it is worth buying UNI in this scenario after the end of the local growth wave.
The UNIBTC Price Is At A Global Critical Point
The UNIBTC price reached its historical low, thanks to the trading week from May 9. Of course, this does not mean that the price will not be able to continue its travels in the depths of price indicators. Though, the fact that buyers are trying to expand the price and keep it within the channel of the fall can not be ignored. The trading volumes would be a little higher to show the interest of investors. Consolidation of the UNIBTC price on a weekly timeframe in the range of 0.00017-0.00022 will confirm the end of the UNIBTC fall and will be an additional signal to investors to buy this cryptocurrency.