UNFI → Resistance Retest. Ready for a breakthrough

Jun 18

BINANCE:UNFIUSDT is showing positive dynamics amid the red cryptocurrency market. The coin is approaching strong resistance and we have the potential to catch a breakout with subsequent growth.



On the weekly timeframe, the coin is still in consolidation (range 16.0 - 2.5). But, against the background of the general neutral trend we have a downward resistance, which is once again being retested. A pre-breakout consolidation is formed against the wedge resistance, due to which an attempt to break the line and further strengthening can be formed. An initial test of resistance may lead to a small bounce, but a quick retest will increase the chances of a breakout.

Support levels: 3.281
Resistance levels: 5.716

I expect the formation of a local consolidation with a gradual push to the resistance of the wedge and further breakout.

Regards R. Linda!

Jun 19

Trade active

Price consolidation is formed near resistance

Jun 20

Trade active

Price breaks trend resistance

Jun 21

Trade active

If the bulls hold the price above the previously broken line, the coin could move into a rally phase

Jun 23

Trade active

The market is trying to consolidate above previously broken resistance

Jun 23

Trade active

price updates local maximum!
Confirmation of the break of the local structure to the bullish one is formed!

Jul 1

Trade active

Price consolidation above previously broken resistance
Ahead 5.716. A breakdown of this zone could be the root cause of the rally