In this new crypto nugget, we take a look at the cryptocurrency UOS, which was, as EGLD last weekwhich was very popular with the community. With this in mind, let’s take a look at the technical levels to watch over the next few weeks, and the bias to take on the asset depending on its progress on supports and resistances. Without further ado, let’s go to TradingView to analyze the UOS share price.
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Back on an all-time high, UOS needs to bounce back
On theweekly scaleFor those who have been looking to invest in UOS for several months, this is undoubtedly one of the best times to do so (of course, always with the uncertainty that the share price may continue to fall). Currently, the share price is on a weekly support which stands at $0.168. As long as this level isn’t lost, then we’re leaning towards a UOS rebound within the next few weeks.
However, a bearish break of this technical level will take UOS towards a lower technical zone, at $0.113. As you can see on the chart, this allows us to note a buying zone where buying UOS will be even more attractive than at present.
For UOS to regain its major resistance at $0.40, the effort required will be considerable and necessary, initially, to regain buying strength in order to defend the current technical level. Thereafter, to achieve this, UOS will have to regain the pivot zone at $0.26.
A complex evolution under oblique resistance
On thedaily time unitUOS is now in difficulty on its technical support, as previously mentioned in the weekly section. For several weeks now, the share price has been trading below oblique resistance, as well as horizontal resistance which was previously a major support (grey zone).
For the bullish scenario can occur on the cryptocurrency UOS, the oblique resistance will have to be broken on the upside, with a crossing of the technical zone at 0.19 dollar. Once this has been achieved, UOS will be able to look for 0.20 and 0.22 dollars, the last bastions before the weekly pivot (blue zone).
As long as UOS can’t free itself from this set of technical levelsit will be difficult to maintain a bullish bias on a daily basis, despite the asset’s interesting situation on a weekly basis. Buyers will have to do everything in their power to reverse the trend. Once the $0.20 mark has been regained, we’ll see the first signs of an upward turn in the price.
This brings us to the end of our analysis of the Ultra platform’s cryptocurrency. It has to be said that the asset is in a daily situationwhich suggests a rebound in the coming weeks. However, this view is somewhat limited by the daily situation of the asset, which is facing numerous resistances. From now on, you have in your hands the technical levels to watch and the conditions to be met for the asset to set up an uptrend.
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