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UniswapX Protocol is a non-custodial Dutch auction-based trading protocol implemented for the Ethereum Virtual Machine. UniswapX aggregates both on-chain and off-chain liquidity, internalizes MEV in the form of price improvement, offers gas-free swaps, and can be extended to support cross-chain trading.
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $8.55
Kijun-Sen- $8.38
UNIUSD was one of the best performers yesterday
Any daily close above $12 confirms further bullishness.
UNIUSD showed a massive jump of more than 25% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $9.52 and is currently trading around $9.39.
The bullish invalidation can happen if the pair closes below $3. On the lower side, the near-term support is $7.85. Any break below targets $7/5.90.
The immediate resistance stands at around $10. Any breach above confirms a minor pullback. A jump to $12/ $17/$20 is possible. A surge past $20 will take it to $25/$30.
It is good to buy on dips around $8 with SL around $5.90 for TP of $17.
