Daily volume is low. Stuck between 2 resistances. Little movement. Only bot traders left. Perhaps, low volume is followed by a pump? Risk reward is just not there. There is no momentum. Must drop before it's able to climb again. Or we need some really good UMA news.
We are currently in a bull run so anything could happen... but right now UMA is making higher highs with a lower RSI. I would not be surprised if UMA went down short term to touch the longer term resistance and then bounce. Overall, UMA is definitely bullish, but I wouldn't say the uptrend is that aggressive.
Look, just one goal here at this stage. Pivoted, impulsing, just taking its time. I am following this one avidly too. NFA and GL.
We have relatively recently crossed the resistance (dotted blue) and have confirmed a pivot. We are going up on this one most surely. I am refraining from drawing target, as it's currently not too clear, but soon will be. As always,don't be stupid, this is not financial advice.
As you probably know already: The market is extremely bullish today. DTNUSDC is up 400% today? Also, most of defi has seen big gains of 20-30%. However, UMAUSD has been a sleeper. The volume is extremely low. This could be seen two ways: A) Low volume means little interest since UMA has had a history of failed pumps. B) Low volume means the whales are waiting...
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Selling pressure looks like it's dying off.
UMA looks bearish right now. Great opportunity to short the coin. Do NOT forget about a STOP-LOSS!
Whenever the MACD is in the green on the 3hr chart, it's pumping. Hoping for $9 in the short term. Also: BTC market dominance is dropping and money is flowing back into alt coins today. It takes very little money for UMA to go up.
Very much the beginnings of an impulse, coming right back up now with a pattern of higher lows. I am watching this space, yet reluctant to call any targets yet.
The current situation: 1. A bullish symmetrical triangle is apparent on the 4HR chart while the price action is near the apex of the triangle. The chance of breaking to the upside is 60% and the measured target is about 11.6 USD The bearish case: if the price action closes below the 4HR 21MA and below the bottom trend line, then lower price action is...
The current situation: 1. There is currently a double bottom apparent on the 4 and 6HR chart. The neckline of the pattern is at about 12.15 and the measured move is about 14 if it plays out. Do note that the measured move may not be reached however. It is also currently under most moving averages and they are acting as resistance so it may be a bumpy ride back up...