#UNI #uniswap #Univ4 #Write2Earn $UNI
Hey guys.
Today we are going to take a look at UNI.
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.
It is currently the fundamental coin for DEFI. I will say that this coin is ranked 4th in my portfolio at the moment, and V4 Uniswap will be implemented soon in Q3 2024. I think you will find information about it yourself, but let's take a technical look at the instrument and what the potential chart movement could be for this event, as many will be frontrunning it.
Technically the instrument is in a consolidation with boundaries of $4 and $7.5-8. Consolidation can have two market maker targets which are accumulation and distribution. Since we are at the end of the downtrend, we identify this zone as accumulation, after the breakdown of which we can expect the birth of a new trend - in our case with a high probability it will be an uptrend.
If the zone of 7.5-8$ is broken, we can see acceleration of growth and achievement of the nearest targets of 10-12-15$. The key support is below $5.5. It is worth adding that there is no entry point at the moment, as it is not a good idea to buy directly into the resistance. There are two options: wait for a pullback and pick up the coin from the supports, or wait for the breakdown of the 7.5-8$ zone and fixing the price above.
Stay tuned.
Hey guys.
Today we are going to take a look at UNI.
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.
It is currently the fundamental coin for DEFI. I will say that this coin is ranked 4th in my portfolio at the moment, and V4 Uniswap will be implemented soon in Q3 2024. I think you will find information about it yourself, but let's take a technical look at the instrument and what the potential chart movement could be for this event, as many will be frontrunning it.
Technically the instrument is in a consolidation with boundaries of $4 and $7.5-8. Consolidation can have two market maker targets which are accumulation and distribution. Since we are at the end of the downtrend, we identify this zone as accumulation, after the breakdown of which we can expect the birth of a new trend - in our case with a high probability it will be an uptrend.
If the zone of 7.5-8$ is broken, we can see acceleration of growth and achievement of the nearest targets of 10-12-15$. The key support is below $5.5. It is worth adding that there is no entry point at the moment, as it is not a good idea to buy directly into the resistance. There are two options: wait for a pullback and pick up the coin from the supports, or wait for the breakdown of the 7.5-8$ zone and fixing the price above.
Stay tuned.
