UNI Technical Analysis
The price of UNI is trading in a certain ascending channel in 4-hour time frame. The price has been recently rejected twice from the upper trend of this ascending channel and retreated to the lower trend support with latest falls, where it saw a strong buy and could rise rapidly above the level of $6.76. Therefore, it is safe to say that ascending channel structure is still valid.
It is a good thing that the price has not daily closed below the trend. We have an important support zone around $6.64 and the price is currently trading above it, which indicates that the momentum is upward. Moreover, $7.43–$7.56 seems to be a critical resistance area.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
