Elliott Wave Analysis TradingLounge Daily Chart, 26 June 2023,
Uniswap/U.S.dollar(UNIUSD)
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Impulse
Wave Cancel invalid Level: 3.6594
Details: Wave V is likely to end at the level of 3.6594 A five-wave rise will support this idea.
Uniswap/U.S.dollar(UNIUSD)Trading Strategy: Uniswap is likely to recover from the 3.659 level which we expect is the end of wave V. The rise will support this idea. But even so, the price is still below the MA200, it may still be pressured by selling pressure. Watch out for reversals in waves ((2)).
Uniswap/U.S.dollar(UNIUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator has a Bullish momentum
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Elliott Wave Analysis TradingLounge 4H Chart, 26 June 2023,
Uniswap/U.S.dollar(UNIUSD)
UNIUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: wave ((1)) of Impulse
Wave Cancel invalid Level: 3.6594
Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1
Uniswap/U.S.dollar(UNIUSD)Trading Strategy: Uniswap is likely to recover from the 3.659 level which we expect is the end of wave V. The rise will support this idea. Also, the price can break the MA200 line, but it may be pressured by selling pressure. Watch out for reversals in waves ((2)).
Uniswap/U.S.dollar(UNIUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum
Source: tradinglounge.com
