TheNewsCrypto

UNIUSDT Short Term Analysis

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BINANCE:UNIUSDT   UNI / TetherUS
Technical Analysis:
UNIUSDT has been exhibiting a Horizontal Channel Pattern, indicating a period of consolidation within the range of $4.245 and $4.656. This pattern suggests that the price is bound within a specific trading range. Furthermore, a Wyckoff structure has been observed, which adds further significance to the trade setup.

Trade Setup:

Entry: Based on the Smart Money Concept, we have identified the entry spot at $4.435. This level represents an opportune moment to enter a long position, expecting a potential breakout from the Horizontal Channel Pattern.

Target: Our target for this trade setup is set at $5.10, offering a favorable upside potential from the breakout level. This target represents the anticipated price movement after the breakout.

Stop Loss: To effectively manage risk, we recommend setting a stop loss at $4.425. Placing the stop loss slightly below the entry spot helps protect against potential downside movements.
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