Brothers, good morning! Today let's talk about UNI. I believe those who have been following me for a while know that a long time ago, Sister Rong mentioned that any price below 10 for $UNI is a golden pit. The cryptocurrency market has not been very stable in recent days, first with $ETH skyrocketing, then some small altcoins fluctuating greatly, and now it's UNI's turn to consolidate.
After rising from 8.68 to 12.3, UNI has pulled back and is now oscillating around 10.78U. Both bulls and bears are confused, unable to rise or fall. The moving averages are all tangled up, and the market needs to choose a direction. The cost for the short-term and mid-term is close, with no obvious trend.
From a technical perspective, the MACD has crossed bearish, and the short-term upward momentum is weak, giving bears an advantage; the RSI is around 39, neutral to weak, with sentiment shifting from excitement to calm. There may be a slight drop in the short term but a crash is unlikely. The key level is 10.5U, which is the floor; if it closes below, it could drop to 10U or even lower. The ceiling is at 11.5U, constrained by the moving averages; a breakout and stabilization above is needed for a reversal.
Today, it is highly probable that UNI will oscillate within the range of 10.5-11.5U, so don’t expect a big one-sided move. Conservative traders should wait for a breakout above 11.5U or a drop below 10.5U before taking action; aggressive traders can try going long near 10.5U with a stop loss set below 10.5, or if it can't break above 11.5U, they can try going short with a stop loss above 11.6, targeting within the range. Regardless of being bullish or bearish, always set stop losses! In a volatile market, stop losses at breakout points are crucial for survival.
I am preparing and listing some cryptocurrencies suitable for bottom-fishing as part of a plan to double down. It's better to work together than to fight alone. Those who understand, come join. (Serious inquiries only)
