UNIUSDT Losing Momentum for a Further Downward Move?

7月3日

Yello, Paradisers! Let’s dive into the latest analysis of #Uniswap (#UNI) and see what might be next for #UNIUSDT.

💎#UNIUSDT has been trading within a falling wedge formation on the 12H timeframe. This pattern is generally considered bullish, but current market conditions suggest caution. Currently, #Uniswap is retesting the falling wedge's lower support level, and there is a possibility that it might drop further.

💎The failed breakout from the falling wedge reinforces a bearish bias. If UNI fails to break above the resistance level, the downward trend could continue.

💎The diminishing trading volume and the Point of Control (POC) of the Volume Range Volume Profile (VRVP) acting as resistance increase the likelihood of a further drop. If #UNI fails to hold the support at the falling wedge's lower boundary, it is likely to retest the major support zone around $7.00.

💎The key support zone, which has been tested and respected multiple times, lies between $6.40 and $7.00. If UNI fails to hold at these levels, the next major support to watch is at $5.886. This area is critical as it is packed with liquidity and can create a good chance of a pullback if tested.

💎The bearish invalidation level is marked above the resistance at $9.459. A break and close above this level could invalidate the bearish scenario and potentially lead to a bullish rally.

Stay focused, patient, and disciplined Paradisers

MyCryptoParadise
iFeel the success🌴