Uniswap Elliott Wave technical analysis [Video]

UNI/USD Elliott Wave technical analysis

• Function: Trend following.

• Mode: Motive.

• Structure: Impulse.

• Current position: Wave 3.

• Next directional bias: Higher-degree bullish wave.

• Invalidation Level: N/A.

UNI/USD trading strategy

Following over two months of corrective movement, UNI/USD now shows promising bullish behavior. The recent 1-2 wave formation appears completed, and a robust wave 3 is currently developing. The low recorded at 4.550 likely signals the conclusion of a major Zigzag corrective pattern. From this base, the market has begun forming a clear upward structure.

Trading strategies

• Approach:

  • For swing traders (short-term)

    • If the price is consolidating, consider entering on visible price action within a defined range.

    • Risk management tip:

      • A break below the $5.00 support level might indicate that the downward structure is not yet complete.

UNI/USD Elliott Wave technical analysis

• Function: Trend following.

• Mode: Motive.

• Structure: Impulse.

• Current Position: Wave 3.

• Next Directional Bias: Higher-degree bullish wave.

• Invalidation Level: N/A.

UNI/USD trading strategy

UNI/USD has emerged from a prolonged corrective phase, and bullish momentum is gaining strength. The completion of the initial 1-2 wave count suggests a strong wave 3 formation is now underway. The 4.550 price mark likely concludes the broader Zigzag correction, paving the way for a distinct bullish trend.

Trading strategies

• Approach:

  • For swing traders (short-term)

    • If price consolidates, watch for actionable signals in the zone before entering.

    • Risk control consideration:

      • A break of the $5.00 support could imply that bearish structures are still in play.

Uniswap Elliott Wave technical analysis [Video]