Elliott Wave Analysis TradingLounge Daily Chart.
UNI/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Counter.
Structure: Double Corrective.
Position: Wave (Y).
Direction next higher degrees: Wave ((E)) of Triangle.
Details: Movement within the Triangle pattern May is complete and the price increase again.
Uniswap/ U.S. dollar(UNIUSD)Trading Strategy: It looks like the wave ((E)) correction is complete and the price is still likely to move up. Look for an opportunity to join the uptrend.
Uniswap/ U.S. dollar(UNIUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart.
UNI/USD Elliott Wave technical analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: Wave ((3)) of Impulse
Details: Wave 2 May is complete and the price increase again in Wave 3
Uniswap/ U.S. dollar(UNIUSD)Trading Strategy: It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend.
Uniswap/ U.S. dollar(UNIUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, The Wave Oscillator is a Bearish Momentum.
Uniswap Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
Michael Saylor predicts Bitcoin to surge to $100K by year-end
MicroStrategy's executive chairman, Michael Saylor, predicts Bitcoin will hit $100,000 by the end of 2024, calling the United States (US) election outcome the most significant event for Bitcoin in the last four years.
Ripple surges to new 2024 high on XRP Robinhood listing, Gensler departure talk
Ripple price rallies almost 6% on Friday, extending the 12% increase seen on Thursday, following Robinhood’s listing of XRP on its exchange. XRP reacts positively to recent speculation about Chair Gary Gensler leaving the US Securities and Exchange Commission.
Bitcoin Weekly Forecast: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC to 100k or pullback to 78k?
Bitcoin and Ethereum showed a modest recovery on Friday following Thursday's downturn, yet momentum indicators suggest continuing the decline as signs of bull exhaustion emerge. Ripple is approaching a key resistance level, with a potential rejection likely leading to a decline ahead.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin (BTC) surged up to 16% in the first half of the week, reaching a new all-time high of $93,265, followed by a slight decline in the latter half. Reports suggest the continuation of the ongoing rally as they highlight that the current trading level is still not overvalued and that project targets are above $100K in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.