UNI did a new All Time High (ATH) and now we seem to have some trouble pushing above that level which is just above $20.
It is likely we will range/consolidate in this area before we can push higher. We are also at the channel top, therefore a bit unlikely we will have the strength to push higher right now. It's more likely SUSHI will pump some more before both coins will correct, see my other idea for SUSHI.
A possible path is on the chart. I do not exclude us going higher to establish a new ATH as the indicators are looking good and there are no reasons for concern at this time. However, we need to establish a base before that and we have good support in the low $17 area. Hence we may re-test that again before going up.
If that support falls or we break below this big ascending channel, then this bullish momentum may come to an end. We shall see, no reasons to think that for now and bias remains bullish.
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It is likely we will range/consolidate in this area before we can push higher. We are also at the channel top, therefore a bit unlikely we will have the strength to push higher right now. It's more likely SUSHI will pump some more before both coins will correct, see my other idea for SUSHI.
A possible path is on the chart. I do not exclude us going higher to establish a new ATH as the indicators are looking good and there are no reasons for concern at this time. However, we need to establish a base before that and we have good support in the low $17 area. Hence we may re-test that again before going up.
If that support falls or we break below this big ascending channel, then this bullish momentum may come to an end. We shall see, no reasons to think that for now and bias remains bullish.
Like and follow if you liked this idea!
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