Elliott Wave Analysis TradingLounge Daily Chart

Uniswap / U.S. Dollar (UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Counter

Structure: Double Corrective

Position: Wave (Y)

Next Higher Degree: Wave ((E)) of Impulse

Wave Cancel Invalid Level: Not specified

Details: The movement within the triangle pattern may be complete, with the price showing potential for another upward move.

Uniswap / U.S. Dollar (UNIUSD) Trading Strategy:

The wave (2) correction appears to be complete, and the price could move higher. Look for opportunities to enter the market as wave (3) starts to trend upward.

Uniswap / U.S. Dollar (UNIUSD) Technical Indicators:

• The price is trading above the MA200, signaling a bullish trend.
• The Wave Oscillator shows a bearish momentum.

Elliott Wave Analysis TradingLounge H4 Chart

Uniswap / U.S. Dollar (UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Next Higher Degree: Wave ((3)) of Impulse

Wave Cancel Invalid Level: Not specified

Details: The wave 2 correction appears to be complete, and the price is expected to rise as wave 3 progresses.

Uniswap / U.S. Dollar (UNIUSD) Trading Strategy:

The wave (2) correction seems to have finished, suggesting the price may continue upward. Consider looking for opportunities to enter the market as wave (3) unfolds.

Uniswap / U.S. Dollar (UNIUSD) Technical Indicators:

• The price is above the MA200, indicating a bullish trend.
• The Wave Oscillator shows bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Ripple / U.S. Dollar (XRPUSD) Elliott Wave Technical Analysis 

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