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Elliott Wave Analysis TradingLounge Daily Chart, 22 January 2024.

Uniswap/U.S. Dollar(UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave (A)

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level: 4.50

Details: After Leading Diagonal complete the Price usually retests 78.6% of Leading Diagonal

Uniswap/U.S. Dollar(UNIUSD) Trading Strategy: Uniswap's rise appears to have ended at the 8.4288 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 78.6% Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

Uniswap/U.S. Dollar(UNIUSD) Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 22 January 2024.

Uniswap/U.S. Dollar(UNIUSD)

UNIUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave (A)

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level: 4.50

Details: We missed two more moves. Wave A is complete. Befor Pullback in Wave B

Uniswap/U.S. Dollar(UNIUSD) Trading Strategy: Uniswap's rise appears to have ended at the 8.4288 level, which was a five-wave Impulse rally in Wave 1. Therefore, the next price structure is a Wave 2 correction pattern with a retracement level of 78.6% Wave 1, so wait for Wave 2 to complete for an opportunity to rejoin the uptrend.

Uniswap/U.S. Dollar(UNIUSD) Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

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