๐ UNI/USDT Daily Chart Breakdown โ Letโs Dive In! ๐
1. Moving Averages (MA) Check
Short-term (7MA): Price is above it but showing a pullback after a sharp pump. Might consolidate or dip a bit more short-term.
Mid-term (99MA): This is way below the current price, indicating strong bullish momentum overall. No immediate worries for bulls as long as it holds above 7MA and 20MA.
2. Bollinger Bands
Price touched the upper band (classic overbought signal) and is now pulling back toward the middle band (20MA).
Band width: Widening significantly, signaling increased volatility.
Takeaway: If price stabilizes around the middle band, itโs a dip-buying opportunity. A breakdown? ๐ Then lower band could come into play.
3. RSI (Relative Strength Index)
Current RSI: 68.64
Overbought territory alert! ๐จ RSI just shy of 70 and heading down, meaning short-term exhaustion from buyers.
No divergence yet, so the long-term trend isnโt weakening.
Takeaway: Bullish momentum might pause here. A pullback to reset RSI could be healthy.
4. MACD
MACD vs Signal Line: MACD is still above the signal line, confirming bullish momentum.
Histogram: Showing some slight weakness in momentum, which aligns with the pullback.
Takeaway: As long as MACD doesnโt cross below the signal line, bulls can stay optimistic. However, watch for a potential flip.
5. Volume
Recent spikes in volume confirm that the pump had solid support from buyers.
However, today's red candle is accompanied by moderate sell volume, indicating profit-taking.
Takeaway: Bulls need strong volume on the next green candle to continue the rally.
TL;DR โก
Trend: Still bullish, but a short-term correction or consolidation is likely.
Support Zones to Watch:
12.50: Immediate short-term support.
10.85 (20MA): Key level for a healthy pullback.
9.80: Strong long-term support zone.
Scenarios:
๐ Bulls need to defend 12.50 and rally with volume for another leg up.
๐ Failure to hold 12.50 could lead to a deeper correction toward 10.85.
