Greeting everyone,

and welcome to a fresh technical analysis, but first, as always, let's take an eye on the crypto market, so we can have a general sense of it.

Market capitalization is over $400 billion and this shows the growth of the market, or better said, the uptrend momentum of the market. The daily volume is around $47 billion, and despite the fact that currencies are in reds, the fallback is small, as the majority of them experiences gains for the last seven days.

Bitcoin consolidates around $12,900, building momentum and a wonderful support at $12,700. In the four hours chart, MACD is losing the touch of the uptrend and points a drawback, but we should have a better result in a couple of more candles to see what the indicator is pointing out, as the daily chart is looking very good and the uptrend is to continue. Again, we should wait a bit to be better prepared. 

Ethereum is trading around $410 and soon will test the $400 level but as a support one. Seems that it will be able to hold the price, and the uptrend, as well, with a bit of correction on the way, of course, so it can have a better smother increase.

So, up next is a request, by a reader, for the UNI token.

To be honest, the fact that the coin is only about a month old - this means a chart with few candles and short history - makes this more difficult.

The four hours chart, even if it is slightly bullish, as we speak, there is a downtrend parallel channel, consolidating around $3. I think this is going to break soon, but I can't say up or down (well I can, but I will not), as it is way too small to have any conclusions out of it. And I will not even open a daily chart...

Nevertheless, in a non-technical analysis, I have to say that the pressure of the coin is incredible, and I mean that this is a coin backed up by a huge protocol. In fact, the biggest, as it is first in Total Value Locked with more than $2,6 billion, about 21% of the $12,3 TVL for all the DeFi ecosystem. UNI will be used as a governance token for Uniswap, though proof of stake, so the real value is big enough. This is not seen in its price. I don't think that the place of this coin is to struggle around $3. 

So, my opinion (and it is more of a sense, rather than based on something) is that this coin has the potential to be way more than that. I cannot say how much, or when, as this is only a matter of time. Now, in more technical analysis, I will say that  I need to re-evaluate it again, in a week or so, to be more specific. 

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