UNI/USD Retail Market Structure: Q1 2021 so far

By idm | Psychologica | 28 Feb 2021


UNI USD Price and Volume

This post examines UNI/USD retail price and volume movement from Jan-01 to Feb-27.

UNI entered 2021 trading under 5 USD, then maintained this price into the second week of January with moderate trading volume.

In the third week of January, low-volume buying brought the price to 9 USD.

The last week in January saw explosive gains as UNI broke through 10 USD and almost reached 20 USD.

At the end of January, major volume traded at around 15 USD, suggesting a lot of UNI exchanged hands at this price.  It's possible 15 USD will be an important number for UNI going forward.

February has mostly held above 20 USD. The first week of February saw relatively low volume but increased volatility.

Whereas UNI mostly traded within a price channel 2 USD wide in January, in February UNI is trading in a range closer to 4 USD.

The third week in February saw a sudden jump from 20 USD all the way to 30 USD - although the price has retraced during the final week of the month.

How to read this plot

This plot depicts the movement of UNI quoted in USD, for the year 2021 to date. Data for UNI/USD were collected from Kraken.

The width of the line is proportional to the volume traded during that period. Similarly, lighter colors correspond to higher volume.

The peaks and troughs have been identified. Peaks were connected to form channels containing most of the price action.

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idm
idm

Ian is a computational psychologist who studies memes, crowds, and markets.


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