Uniswap (UNI/USD) Elliott Wave analysis
|Elliott Wave analysis TradingLounge daily chart, 26 June 2023
Uniswap/U.S.dollar(UNIUSD).
UNIUSD Elliott Wave Technical Analysis.
Function: Counter trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave (C).
Direction Next higher Degrees: wave ((2)) of Impulse.
Wave Cancel invalid Level: 3.6594.
Details: Wave V is likely to end at the level of 3.6594 A five-wave rise will support this idea.
Uniswap/U.S.dollar(UNIUSD)Trading Strategy: Uniswap is likely to recover from the 3.659 level which we expect is the end of wave V. The rise will support this idea. But even so, the price is still below the MA200, it may still be pressured by selling pressure. Watch out for reversals in waves ((2)).
Uniswap/U.S.dollar(UNIUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator has a Bullish momentum.
Elliott Wave analysis TradingLounge 4H chart, 26 June 2023
Uniswap/U.S.dollar(UNIUSD)
UNI/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (3).
Direction Next higher Degrees: wave ((1)) of Impulse.
Wave Cancel invalid Level: 3.6594.
Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1.
Uniswap/U.S.dollar(UNIUSD)Trading Strategy: Uniswap is likely to recover from the 3.659 level which we expect is the end of wave V. The rise will support this idea. Also, the price can break the MA200 line, but it may be pressured by selling pressure. Watch out for reversals in waves ((2)).
Uniswap/U.S.dollar(UNIUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.