RLinda ! UNIUSD-> Wedge, Cup & Handle, what does that mean?

4 Oca 2023

UNIUSD is forming an interesting situation. Wedge, top and handle, resistance breakout, what could this mean and what to expect next?

The coin has been in a downtrend for a long time, today the price goes into the green zone and moves behind the bitcoin, which forms the high of the last few weeks. I marked a downward wedge, at the end of which the price is forming a "cup and handle" pattern. As we can see, the price breaks through the wedge resistance and the cup resistance of 5.41 and momentum is forming. A long channel and upside potential to 5.99 is open.

I assume that after the final fixation of the price in the long zone we may see the formation of a strong bullish momentum. The first target is the resistance of 5.99, the second target is the liquidity zone of 6.49. The medium-term target is the peak of 7.756.

Regards R. Linda!

4 Oca 2023

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