UniSwap (UNI) and Theta (THETA) Set for Gains? Elite Analyst Outlines These Bullish Patterns
Top crypto analyst Rekt Capital has set his sights on two promising projects: UniSwap (UNI) and Theta Network (THETA). Through his insightful analysis shared via his newsletter, he has unveiled bullish setups for these tokens, painting an optimistic picture for their future trajectory.
What you'll learn 👉
UniSwap’s Macro Market Structure Breakthrough
Rekt Capital’s analysis shows that UniSwap (UNI) has achieved a significant milestone by breaking beyond a critical orange resistance area. This area previously acted as support during the early stages of the 2022 bear market but eventually faltered. Consequently, UNI is now well-positioned to reclaim this former resistance zone as newfound support.
Moreover, UNI has ventured into a broad trading range, bounded by the orange Range Low and the red Range High at $19.22. Any pullbacks into the orange region signify a retest attempt, potentially paving the way for further upside towards the Range High over time.
Theta Network’s Extraordinary Rally and Potential Retest
Theta (THETA) has been on Rekt Capital’s radar for an extended period, primarily due to its shared market structure with UNI, which foreshadowed a promising performance following the retest of their respective breakout patterns. Notably, THETA has experienced an extraordinary rally, surging over 300% since retesting the top of the blue pattern.
With THETA currently trading at these elevated levels, Rekt Capital believes a macro range may be developing, represented by the orange-orange range, with the price hovering around the Range Highs. However, despite these lofty heights, THETA could still technically retest the orange-boxed resistance area and establish it as new support, akin to its behavior in early 2022 (green circle).
Should THETA undergo a pullback for this retest of the local orange area, Rekt Capital warns that it could be highly volatile, mirroring the downside wicks observed in early 2022. Interestingly, this retest of the orange area has historically been a prerequisite for revisiting the blue highs at $4.41.
Latest Price Action
According to CoinGecko’s latest price data, UniSwap (UNI) is trading at $14.03, representing a modest 1.09% decline over the past 24 hours. Conversely, Theta Network (THETA) is currently valued at $3.32, reflecting a 2.78% price drop in the last 24 hours, albeit with a 13.22% increase over the past seven days.
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Show more +Rekt Capital’s analysis underscores the potential for both UniSwap and Theta Network to continue their bullish trajectories. As these tokens navigate their respective market structures, investors and traders will closely monitor their price movements, anticipating the following significant milestones on their paths to further growth and adoption.
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