$UNI /USDT) Technical Analysis and trading signal 🚀

Current Price: $18.85

Momentum: Bullish (due to 18.04% daily gain, breaking resistance levels)

Key Levels:

1. Resistance Levels:

Immediate Resistance: $19.00

Major Resistance: $19.50

2. Support Levels:

Immediate Support: $18.00

Strong Support: $17.50

Technical Indicators:

RSI (Relative Strength Index): RSI is approaching the overbought zone (~70), indicating strong bullish momentum but watch for potential pullbacks.

EMA (Exponential Moving Averages):

50 EMA: Bullish crossover with the 200 EMA indicates a continuation of the upward trend.

Volume: Increasing volume shows strong buying interest.

Trade Setup:

Entry Point:

Long Entry: Above $18.90 after confirmation of breakout.

Short Entry: Below $17.80 if the price fails to hold support.

Target 🎯 Levels (Long Trade):

1. Target 1: $19.30

2. Target 2: $19.80

3. Target 3: $20.50

Stop Loss:

Place a stop loss at $17.80 for long positions to minimize risks.

Momentum:

Trend Direction: Strongly bullish in the short term.

Caution: If RSI enters the overbought zone, a small pullback towards $18.00-$17.80 could occur before further upside.

Risk-Reward:

Risk: Medium (due to recent price volatility).

Reward: High (if breakout sustains).

Trade Suggestion:

Enter Long Trades on breakouts above $18.90.

Watch RSI and Volume for momentum confirmation.

Avoid entering trades during consolidation near $18.50.

Stay updated with market sentiment and news around UNI to align with broader DeFi trends.

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