UNI - 4h. Buyers do not have the strength to break $12.5.

26 янв. 2021 г.

The amazing rise in the UNI price while the BTC market is in correction is impressive. In just one day, buyers managed to raise the price by 40%.

The main reason for this was the break of the critical range of $9.1-9.6, under which the price has been consolidating since January 16. After breaking this range, trading volumes increased significantly. At the moment, the daily trading volume of the Uniswap token is $5,280,354,800. UNI entered the top 5 of all cryptocurrencies in terms of daily trading volumes. However, is there potential for UNI growth without correction?

The chart shows that the first problem that appeared to buyers is the mark of $10.85. This mark shows abnormal volumes, which indicate that sellers have become more active. At the moment, this mark is under the control of buyers. This is confirmed by yesterday's unsuccessful attempt by sellers to start a correction.

However, with the second problem, buyers can not cope even with high volumes. This is a mark of $12.51. Until the price is out of the consolidation range - it is dangerous to buy UNI. Only after fixing above $12.51 can we expect continued growth to $15.

However, given that buyers are again faced with a white trend line, from which the price of UNI jumped twice while the probability of starting a correction is higher. At the moment, this is our main scenario, which we wrote about in our global UNI idea:

Let's see where the price will shoot from this consolidation and watch.
____________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!