The UNIBOT price is making its third attempt at breaking out above the $200 resistance area. Doing so will likely lead to a new all-time high.
Since resistances weaken each time they are touched, an eventual breakout from this area is the most likely future price scenario.
Will UNIBOT Price Reach Yet Another New All-Time High?
The UNIBOT price has increased by slightly more than 1,900% since the day of its listing on July 21. The price reached a new all-time high of $203 during the increase on July 28.
However, the increase could not be sustained. The UNIBOT price has validated the $200 area as resistance by reaching it three times (red icons). It is currently making an attempt at breaking out above it.
The reaction to the $200 area has seemingly created a triple-top pattern. This is considered a bearish pattern that usually leads to downward movements. However, the price has also followed an ascending support line since July 23.
Combined with the $200 resistance creates an ascending triangle, considered a bullish pattern. So, there are contrasting patterns in different timeframes.
The line is currently at $120, a 38% drop measuring from the current price. So, a significant decrease could occur in case of a rejection.
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Author: Valdrin Tahiri
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