Technical analysis for currency #UNI
The UNI token is a governance token for the Uniswap platform in the DeFi world. The UNI token is currently experiencing a decline, which may provide traders with a buying opportunity at the following support levels:
Time Frame Key Support Key Resistance
Short-term: $6.30–6.41 8.30
Medium-term: $5.50–5.60 $10.35
Long-term: $5.00–4.50 $13–14.5
Trading Analysis: A price rebound from the nearby support at ~$6.30 may open the opportunity for an attack towards the resistance level ~8.30, and if it breaks this level, it may target higher resistances.
Risks: A break below the support at $6.30 could lead to a drop towards $5.50 or lower, while failure to surpass $8.75–10.35 may cause a correction within the range.
✅ Trade Recommendations
Set Stop Loss: Below the immediate support ($6.30), near ~$6.20, or at $5.50 according to the trading pattern.
Take Profit: Near resistance levels ($8.30, then $10.35), or start covering a short position upon failure to break out.
Monitor Technical Indicators: RSI above 55–60 may reinforce the bullish scenario, and a breakdown below $6.30 with significant liquidity volume confirms the bearish trend.
