UniSwap / U.S. Dollar (UNIUSD) Elliott Wave Analysis: TradingLounge Daily Chart
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Flat
Position: Wave C
Next Higher Degree Direction: Wave C of (4)
Invalidation Level: Not specified
Details:
The current price action represents a corrective phase in Wave (4). After this phase concludes, an increase is expected in Wave (5), resuming the uptrend.
Trading Strategy for UNIUSD:
The corrective decline in Wave (4) is a preparatory move before another rise in Wave (5). The price remains in an overall uptrend, and traders should anticipate a continuation of the upward momentum.
Technical Indicators for UNIUSD:
- Moving Average (MA200): The price is trading above the MA200, confirming the uptrend.
- Wave Oscillator: Indicates bullish momentum, supporting the expectation of continued upward movement.
UniSwap / U.S. Dollar (UNIUSD) Elliott Wave Analysis: TradingLounge 4H Chart
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Flat
Position: Wave C
Next Higher Degree Direction: Wave C of (4)
Invalidation Level: Not specified
Details:
Similar to the daily chart, the 4-hour chart indicates that the market is in a corrective phase (Wave C of Wave (4)). Following this correction, the trend is expected to shift upward in Wave (5).
Trading Strategy for UNIUSD:
The ongoing decline in Wave (4) provides a setup for a bullish continuation in Wave (5). This aligns with the broader uptrend, suggesting traders should prepare for renewed upward momentum.
Technical Indicators for UNIUSD:
- Moving Average (MA200): The price holds above the MA200, reinforcing the uptrend.
- Wave Oscillator: Bullish momentum supports the likelihood of price increases in the near term.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
Previous: BTCUSD Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
