Brief Analysis——UNI
Although BTC led most tokens to usher in a pump, the next day red candle covered the gains of most tokens. Today's brief analysis will continue the review of previously analyzed tokens. What we chose today is UNI and 1inch.
We conducted a brief analysis of UNI in mid-July. It is believed that the high probability of the rise has not ended. As we thought, the price rose and broke the given resistance level. And after the bears strengthened, it returned below the given resistance level. The long red candle on Aug. 2 means that the bears was starting to attack. After that, UNI fell, broke through the given support level downwards, and came to near the lower rail of the gray range.
This week, the bulls started to strengthen and the price rebounded. However, whether it is from the trading volume or the length of the green candle, it can be seen that the power of the bulls is still very weak. It is just a normal rebound after the bears decay. On Tuesday, UNI formed a long green candle due to market-driven effects. One day later, long red candle covered the gains brought by the pump.
Conclusion: The high probability decline has not ended. UNI remains neutral on a large scale. The bears are stronger than the bulls, who barely gain strength after the price approaches the green dotted line. So we come to this conclusion. We set new resistance level at 5 and support level at 4.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
We conducted a brief analysis of UNI in mid-July. It is believed that the high probability of the rise has not ended. As we thought, the price rose and broke the given resistance level. And after the bears strengthened, it returned below the given resistance level. The long red candle on Aug. 2 means that the bears was starting to attack. After that, UNI fell, broke through the given support level downwards, and came to near the lower rail of the gray range.
This week, the bulls started to strengthen and the price rebounded. However, whether it is from the trading volume or the length of the green candle, it can be seen that the power of the bulls is still very weak. It is just a normal rebound after the bears decay. On Tuesday, UNI formed a long green candle due to market-driven effects. One day later, long red candle covered the gains brought by the pump.
Conclusion: The high probability decline has not ended. UNI remains neutral on a large scale. The bears are stronger than the bulls, who barely gain strength after the price approaches the green dotted line. So we come to this conclusion. We set new resistance level at 5 and support level at 4.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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