UNI - Analysis



10/3/20220 min read

Last week, UNI stopped its uptrend at the $6.50 resistance area, and given that this resistance area was broken down in the past with strength and is considered a reversal zone in the 4-hour time frame, it can still Be accompanied by a negative reaction. For this purpose, you can consider a downward trend line on the last waves in the 4-hour time frame. If the downward trend line is broken due to the negative divergences of the RSI indicator in the 4-hour period, we can expect to see the price drop again towards the support of $5.

But if the efforts of the buyers can bring the price back above the resistance of $6.60, we can expect the price to grow to the resistance range of $7.45 to $7.88. But we expect a stronger reaction in this range. The trend is still bearish on the daily time frame, and there is a possibility of a retest of previous support levels. The RSI indicator shows hidden positive divergence in the daily time frame, but there is no definite sign of trend reversal yet. Therefore, the support of the rising trend line can be very helpful this week.