I'm sorry for the messy chart, but I prefered to leave both patterns to make you understand.
As you can see the breakout from the descending channel I had posted weeks ago is still happening but very slow as there are too many sells in the resistance area (purple rectangle). It appears clear from the VLPR (more yellow than purple in the histogram) and also from the behavious of the price itself. So basically, as soon as the people that wants to sell around 13 and 14USDT will finish UMA should be able to continue the breakout.
When that will happen two possible ways will present:
1) a breakout from the descending channel (modest pump)
2) price will touch 14.5USDT to form an Adam&Eve pattern. If this happens price should reach 22.5-23USDT
Now, I've a bag of UMA and I'm aware this token is underperforming my expecation, but if altseason will affect positively every good project then UMA should get enough volume to go over its ATH. However it's also up to the company which I think, it's no doing marketing in a very interesting way.
I'd buy some if price will retest channel's upper band.
Good luck
As you can see the breakout from the descending channel I had posted weeks ago is still happening but very slow as there are too many sells in the resistance area (purple rectangle). It appears clear from the VLPR (more yellow than purple in the histogram) and also from the behavious of the price itself. So basically, as soon as the people that wants to sell around 13 and 14USDT will finish UMA should be able to continue the breakout.
When that will happen two possible ways will present:
1) a breakout from the descending channel (modest pump)
2) price will touch 14.5USDT to form an Adam&Eve pattern. If this happens price should reach 22.5-23USDT
Now, I've a bag of UMA and I'm aware this token is underperforming my expecation, but if altseason will affect positively every good project then UMA should get enough volume to go over its ATH. However it's also up to the company which I think, it's no doing marketing in a very interesting way.
I'd buy some if price will retest channel's upper band.
Good luck
Comment:
shout out to UMA for letting us know it's still alive! The neckline of the "adam" has been reached, now I hope to see some consolidation in this area turning it into a support and then another run to reach the target. My only worry is that this is an unusual pump for UMA which could lead to a dump.... but let's hope this doesn't happens!
Comment:
UMA still over 16.30 USDT resistance and trending #1 on #LunarCrush but I expect a retest very soon. If price will remain over it then we'll talk about reaching back former 0.618 Fib line. If instead price will break down not only the support line but even the support zone it'll be a debacle.
VLPR shows there's a good request at this level so it's likely resistance will hold. The problem is that many people who hold UMA don't hold it for long... if they held this would easily go to triple figures!
VLPR shows there's a good request at this level so it's likely resistance will hold. The problem is that many people who hold UMA don't hold it for long... if they held this would easily go to triple figures!
Comment:
Despite general market retracement generated from BTC going to ATH and then going down (as usual) we can say that my support region on UMA held. My hope is that current resistance will be broken by the daily chandle.
Trade closed: target reached:
congrats if you entered for my short term target, we touched it so if you just wanted to take a quick profit this is your time to sell. If like me you're in for a major pump like in Q1 then just sit and wait. However I would expect a retracement after all this pumping, it's +65% since my call