UNI/USD Elliott Wave technical analysis
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Function: Trend following.
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Mode: Motive.
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Structure: Impulse.
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Current position: Wave 3.
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Next directional bias: Higher-degree bullish wave.
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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
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Approach:
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For swing traders (short-term)
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If the price is consolidating, consider entering on visible price action within a defined range.
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Risk management tip:
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A break below the $5.00 support level might indicate that the downward structure is not yet complete.
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UNI/USD Elliott Wave technical analysis
-
Function: Trend following.
-
Mode: Motive.
-
Structure: Impulse.
-
Current Position: Wave 3.
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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
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Approach:
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For swing traders (short-term)
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If price consolidates, watch for actionable signals in the zone before entering.
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Risk control consideration:
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A break of the $5.00 support could imply that bearish structures are still in play.
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Uniswap Elliott Wave technical analysis [Video]
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