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Now, let’s dive into this chart analysis:
A couple of weeks ago, UNI was rejected from the $12 price level, forming a resistance trendline. Currently, the price is at $9.175, holding decent support at the 200EMA ($8.76).
After the rejection, UNI has yet to hit the supporting trendline at $7.33, indicating a potential further 20% drop if the price doesn't hold the 200EMA.
Here are some key observations:
~ Primary Support- 200EMA at $8.76. ~ Lower Support- $7.33. ~ Crucial and decisive point- 200EMA at $8.76. ~ Invalidation point- Break down below the lower support. ~ Best Entry: $7.29 to $7.81.
DYOR. NFA.
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