FxWirePro- UNIUSD (Chart of the day)

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- $10.68

Kijun-Sen- $10.62

UNIUSD was one of the best performers this week

Any daily close above $17 confirms further bullishness.

UNIUSD showed a massive jump of more than 20% in the past three days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a low of $8.74 and is currently trading around $10.68.

The bullish invalidation can happen if the pair closes below $5.80. On the lower side, the near-term support is $8.70 Any break below targets $7.85/$7/5.90.

The immediate resistance stands at around $12. Any breach above confirms a minor pullback. A jump to $14/$17/$20 is possible. A surge past $20 will take it to $25/$30.

It is good to buy on dips around $10 with SL around $8 for TP of $17.

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