UNIUSD Channel Down broke upwards but faces the 1D MA100.

Uniswap (UNIUSD) broke above its 16-month Channel down, being the highest above the 1W MA50 (blue trend-line) since November 2021. This legitimate bullish reversal rally now faces the most important (and final) Resistance of the Bear Cycle, the 1W MA10 (green trend-line).

With the 1W RSI on a huge Bullish Divergence (as it trades within a Channel Up against the Channel Down of the price), if we close a 1W candle above the 1W MA100, we will buy and target 7.9000 (0.786 Fibonacci level) and 9.8000 (1.0 Fib) in succession.

Until this 1W MA100 break-out takes place, we are bearish, targeting 4.4000.

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