Elliott Wave Technical Analysis: Uniswap / U.S. Dollar - Friday, Feb. 24

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Feb 24, 2023 at 5:13 AM EST

The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

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Elliott Wave Analysis TradingLounge Daily Chart, 24 February 2023.

Uniswap/U.S. Dollar (UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Impulse

Details: Wave 3 is equal to 1.618 multiplied Length of wave 1 at 15.371

Wave Cancel invalid Level: 6.094

Uniswap/U.S. Dollar (UNIUSD) Trading Strategy: Uniswap is likely to complete a reversal in Wave II, a rebound from the MA200 and a 5-wave rise from the 4.946 level reinforces this idea. This causes the price to trend towards wave III, and Wave III is usually equal to 1.618 times the length of wave I of 15.37.

Uniswap/U.S. Dollar (UNIUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 24 February 2023.

Uniswap/U.S. Dollar (UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: wave III of Impulse

Details: Sub-wave of wave ((3)), the price trend trade above 7.518

Wave Cancel invalid Level: 6.094

Uniswap/U.S. Dollar (UNIUSD) Trading Strategy: Uniswap is likely to complete a reversal in Wave II, a rebound from the MA200 and a 5-wave rise from the 4.946 level reinforces this idea. This causes the price to trend towards wave III, and Wave III is usually equal to 1.618 times the length of wave I of 15.37.

Uniswap/U.S. Dollar (UNIUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators below Zero-Line momentum are Bearish.

More By This Author:

Elliott Wave Technical Analysis: US Stocks
Elliott Wave Technical Analysis: O'Reilly Automotive, Thursday, Feb. 23
Polkadot /U.S.dollar (DOTUSD) Elliott Wave Technical Analysis

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