#BTCUptober #UNI: $UNI $BTC
đ UNI/USDT Technical Analysis â Bullish Breakout & Retest đ
Hi everyone, Iâve been analyzing UNI/USDT on the daily chart and wanted to share my insights. Hereâs what Iâm seeing:
đ Trendline Breakout: UNI recently broke out of a long-term descending trendline and has successfully retested it. This is often a strong bullish signal, indicating potential upward momentum.
đĄïž Support Zone: The price has held strong above a key support zone around $3.8 (marked in the green box). This area has acted as a base for accumulation in the past, adding further confidence to the current move.
đ Indicators:
MACD: Positive momentum is building, with the MACD line crossing above the signal line, further supporting the bullish sentiment.
đ Volume: Weâve seen a noticeable increase in volume, which confirms the breakoutâs strength. High volume during breakouts usually suggests that the move is supported by significant market interest.
đ What to Watch For:
Keep an eye on potential resistance levels around $12.86 and $17, where UNI may face some selling pressure.
Ensure risk management by placing stops around the previous trendline or below the support zone to guard against false breakouts.
đĄ Final Thoughts: While the breakout looks promising, always trade with caution and make sure to manage risk accordingly. I hope this helps the community in navigating UNIâs potential next move!
Let me know your thoughts or if you see anything I missed! đŹđ