UMA update: Consolidating in range, potential to break down
UMA continues to consolidate in this range in very low volume. It could range like this for several days.
NOTE: the overall altcoin market condition right now (Sunday, 2.14.21) is in CORRECTION. Very few alts are pumping today. We just had a major week of huge altcoin pumps, this correction is normal and expected, but there's no telling if it will continue to sell off into monday and onwards, of there will be a strong bounce back soon.
Best course of action: follow your coins on your watchlist carefully, and look for good entry conditions.
UMA right now looks good consolidating in a very low volume range. But the price swings can be huge. See that there is a potential 20%+ drop to lower support, so if you enter now, be prepared for 20% drops. It's possible to set buy bids in the 24.9 area which is the lowest support zone in this range.
I would not enter UMA now unless you have a very long fundamental bullish opinion.
NOTE: the overall altcoin market condition right now (Sunday, 2.14.21) is in CORRECTION. Very few alts are pumping today. We just had a major week of huge altcoin pumps, this correction is normal and expected, but there's no telling if it will continue to sell off into monday and onwards, of there will be a strong bounce back soon.
Best course of action: follow your coins on your watchlist carefully, and look for good entry conditions.
UMA right now looks good consolidating in a very low volume range. But the price swings can be huge. See that there is a potential 20%+ drop to lower support, so if you enter now, be prepared for 20% drops. It's possible to set buy bids in the 24.9 area which is the lowest support zone in this range.
I would not enter UMA now unless you have a very long fundamental bullish opinion.
@eddietradezz
