Elliott Wave Technical Analysis: Uniswap / U.S. Dollar - Tuesday, Feb. 28

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Feb 28, 2023 at 7:24 AM EST

The price is below the MA200 indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

Photo by Wance Paleri on Unsplash

Elliott Wave Analysis TradingLounge Daily Chart, 28 February 2023.

Uniswap / U.S. Dollar (UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction Next higher Degrees: wave (I) of Impulse

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid Level: 4.9475

Uniswap / U.S. Dollar (UNIUSD) Trading Strategy: Uniswap remains in a correction in wave ((2)) before rallying again in wave ((3)). Retracement of wave ((2)) usually .50 or .618 x. Length wave ((1)) at the level of 5.9505, wait for wave ((2)) to complete to join the trend again.

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

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 28 February 2023.

Uniswap / U.S. Dollar (UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction Next higher Degrees: wave (I) of Impulse

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid Level: 4.9475

Uniswap / U.S. Dollar (UNIUSD) Trading Strategy: Uniswap remains in a correction in wave ((2)) before rallying again in wave ((3)). Retracement of wave ((2)) usually .50 or .618 x. Length wave ((1)) at the level of 5.9505, wait for wave ((2)) to complete to join the trend again.

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

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