The UNIUSDT crypto pair started to make sharp up and down swings, following a monthly price close above the June bearish inside bar resistance [29.3803]. This created a massive opportunity for swing traders to track specific trend reversal and continuation chart patterns like the divergence.
Let’s dive into it.
uni price analysis
The bearish trend was confirmed with a hidden bearish divergence formation on September 06 04:00, after an earlier price close below the September 01 00:00 support.
Efforts by the bulls to restore dominance collapsed to a third bearish divergence on September 15 20:00, which sent the UNI token into a 31.5% downward spiral.
A massive surge in demand after a bear squeeze on September 26 at 08:00 set’s a bullish undertone for the UNI token as the bulls attempt a price close above the bearish inside bar resistance [23.28].
Switching to the Heiken Ashi charts revealed the massive sell pressure and breakdown of inside bar support that fueled the downtrend.
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