Unifi Protocol is a decentralized Finance (DeFi) ecosystem with built-in decentralized exchange and cross-bridge token swap protocol. Users can earn APY rewards like other decentralized exchanges by investing in listed trading pairs. As per the latest report, Unify protocol has more than $12m value locked in the platform for 461 different trading pairs.
Among other DeFi platforms, Unify is unique due to its sophisticated feature and cross-chain protocol that automatically rebalances the liquidity head under its uBridge smart contract. On the other hand, the Unify protocol includes a unique approach to yield farming without the involvement of any staking. Instead, the firming reward generated from the yielding is provided through the DEX liquidity that will reduce the hassle of higher gas fees and LP tokens.
Despite its uniqueness, the UNFI price failed to hold the recent bullish momentum and showed an immediate recovery with a counter-impulsive momentum. What should investors do now?
Let’s see the future price direction of Unifi Protocol DAO (UNFI) from the UNFI price prediction.
UNFIUSD Recovers From The 1150% Gain- What’s Next?
Excessive volatility with massive buying and selling pressure is widespread in the crypto market, and there is no exception for the UNFIUSD. The recent bullish spike came with a solid fundamental background that made a bullish break of structure from the current corrective trend. According to the supply-demand concept, the last bearish candle before the bullish pressure is considered the demand area. For the UNFIUSD daily chart, the 2.89 to 2.33 area is regarded as the most recent demand level. Therefore, as long as bulls hold the price above the 2.33 level, it might continue moving higher by showing an immediate rebound.
The above technical analysis shows the daily chart of UNFIUSD, where the current price trades above the dynamic 20 EMA while the Relative Strength Index is still above the neutral 50 level.
Unifi Price Prediction, further bearish correction is pending in this pair, where the primary target is to test the static 3.80 support level in the coming days. However, any rebound with a bullish rejection candlestick formation from the dynamic 20 EMA area would provide a bullish sign for this pair where the primary aim is to test the 18.84 level.
UNFIUSD Ichimoku Cloud Analysis
According to the Ichimoku Cloud UNFI Coin Price Prediction, UNFIUSD trades under bearish pressure, although the recent bullish spike made a massive gain. In the future cloud, the gap between the Senkou Span A and Senkou Span B is high while the Senkou Span A moves lower, indicating a possible bearish momentum. On the other hand, the Lagging Span is still above the price, while the dynamic levels are above the price.
This technical analysis shows how the early trend shifted to the bears' zone from the Aroon Indicator. In the indicator window, Aroon Up (green line) crosses above the Aroon Down (red line), indicating that the early trend is bullish. If the Aroon green line moves above the 50% level, the buying pressure may extend in the coming days. On the other hand, the dynamic Tenkan Sen and Kijun Sen are still above the price, working as minor resistances.
According to the UNFI forecast, the current momentum for this instrument is bearish as long as it trades below the static 10.14 level. In that case, the primary aim is to test the 3.80 support level. On the other hand, any strong rebound above the dynamic Tenkan Sen is supported by the early bullish trend that would increase the buying pressure toward the 22.00 Kijun Sen area.
UNFIUSD Intraday Price Action Analysis
In Unifi Protocol price prediction, the visible range volume shows that the highest trading volume was at the 2.50 level from where the recent upside pressure came. In that case, if the price comes closer to the 2.50 level, bulls may attempt again to extend the current momentum. On the other hand, the most recent intraday high volume level is above the current price, indicating minor selling pressure.
This technical analysis shows how the MACD Histogram remained bearish with a stable momentum while the dynamic 20 EMA is working as immediate support. Meanwhile, the dynamic VWAP is still above the price, sloping lower with a bearish sentiment.
Therefore, UNFIUSD selling pressure may extend if a bearish H4 candle appears below the dynamic 20 EMA. In that case, bears may take the price down towards the 3.80 to 2.50 area. On the other hand, any intense buying pressure from the 2.50 area would be a bullish opportunity.
Is Unifi Protocol (UNFI) A Sell?
According to the Unifi Protocol DAO (UNFI) Price Prediction, UNFIUSD bearish correction is still pending, and the primary aim is to test the 3.80 level in the coming days. On the other hand, the daily demand and visible range high volume area at 2.50 to 3.80 area would increase the bullish possibility, depending on the price action.
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