$UNI
/USDT Technical Analysis and Trade Strategy 🎯
Current Price: $18.77
Trend: Bullish Momentum (+6.97% 24h change)
Time Frame: 1D (Daily)
Key Indicators:
1. Moving Averages (MA):
50-Day MA: $16.50 (acting as support)
200-Day MA: $12.80 (long-term support)
The price is above both MAs, indicating a bullish trend.
2. MACD:
MACD Line above Signal Line: Bullish crossover
Histogram Positive: Upward momentum
3. Bollinger Bands:
The price is near the upper band, indicating strong buying pressure.
Potential for a short-term retracement before further breakout.
4. Relative Strength Index (RSI):
RSI: 72 (Overbought zone)
Possibility of a minor correction, but bullish sentiment remains strong.
Trade Strategy:
Entry Zone:
Consider entering on pullbacks between $17.80 - $18.20 for optimal risk-to-reward.
Stop-Loss:
Place stop-loss around $17.20 to minimize downside risk.
🎯 Target Levels:
1. Target 1: $19.80 (Near-term resistance level)
2. Target 2: $21.00 (Key psychological and Fibonacci level)
3. Target 3: $23.50 (Previous swing high, strong resistance)
Risk Management:
Risk/Reward Ratio: 1:2 or better
If price closes below $17.20, reconsider bullish outlook.