Rounding Bottom Struggle: UNI faces challenges breaking out of a rounding bottom pattern in the daily chart, encountering resistance despite bullish momentum.
Golden Crossover Tease: The 50-day and 200-day EMAs hint at a potential golden crossover, indicating a reversal, despite RSI showing bearish divergence.
Breakout Projection: A successful bullish breakout could propel UNI price towards the $8 mark, following a significant pullback and consolidation.
Rejection and Pullback: Previous rejection at $6.680 led to a substantial pullback to $4, resulting in a consolidation phase between $4 and $4.90.
Bullish Breakout: UNI experiences a bullish breakout above the 50D and 200D EMAs, with increased intraday volume, marking a 56% jump to reclaim $6.
Current Price & Trend: UNI trades at $6.20, displaying a slight intraday fall, reflecting a rounding bottom pattern and ongoing struggle to sustain the uptrend.
Technical Indicators - RSI & EMA: RSI shows bearish divergence, while the EMAs tease a golden crossover certifying a potential trend reversal.
Potential Breakout Impact: A successful bullish breakout could lead to a retest of $8, indicating a potential 27% increase in UNI price.
Support and Retest: Conversely, dropping below $6 might lead to a retest of $5.73, suggesting a possible correction if the breakout fails.
Golden Crossover Tease: The 50-day and 200-day EMAs hint at a potential golden crossover, indicating a reversal, despite RSI showing bearish divergence.
Breakout Projection: A successful bullish breakout could propel UNI price towards the $8 mark, following a significant pullback and consolidation.
Rejection and Pullback: Previous rejection at $6.680 led to a substantial pullback to $4, resulting in a consolidation phase between $4 and $4.90.
Bullish Breakout: UNI experiences a bullish breakout above the 50D and 200D EMAs, with increased intraday volume, marking a 56% jump to reclaim $6.
Current Price & Trend: UNI trades at $6.20, displaying a slight intraday fall, reflecting a rounding bottom pattern and ongoing struggle to sustain the uptrend.
Technical Indicators - RSI & EMA: RSI shows bearish divergence, while the EMAs tease a golden crossover certifying a potential trend reversal.
Potential Breakout Impact: A successful bullish breakout could lead to a retest of $8, indicating a potential 27% increase in UNI price.
Support and Retest: Conversely, dropping below $6 might lead to a retest of $5.73, suggesting a possible correction if the breakout fails.