$UNI $UNI

UNI/USDT Analysis: A Bearish Turn with Potential Entry Points

The current price of UNI/USDT is $9.055, indicating a -2.32% decline in the past 24 hours. The price action has shifted from a bullish trend to a bearish one, forming lower highs and lower lows on the chart.

Key Support and Resistance Levels

* Immediate Support: $8.813 (24-hour low)

* Strong Support: $8.792 (recent low)

* Immediate Resistance: $9.055 (current price)

* Strong Resistance: $9.700 (24-hour high)

Entry Strategy

Given the recent bearish turn, consider the following strategies:

* Short-Term: Wait for a potential bounce off the immediate support at $8.813. If the price retraces to this level and shows signs of bullish reversal (e.g., bullish candlestick patterns, increased buying volume), consider a short-term long position with a tight stop-loss below the support level.

* Long-Term: If the price breaks below the strong support at $8.792, it could signal a more significant downtrend. In this case, a long-term short position might be considered with a stop-loss above the broken support level.

Important Considerations:

* Volatility: The cryptocurrency market is highly volatile. Always use stop-loss orders to manage risk.

* Fundamental Analysis: Consider the underlying fundamentals of UNI and the broader market conditions before making any investment decisions.

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