Universal Market Access or UMA seeks to decentralize the financial derivatives products such as Futures, CFD or Total Return swaps.
For the past 3 months, UMA has been trading in a Horizontal Channel formation . Closing above the resistance trendline $33 may trigger the price of the UMA token to new highs.
Key levels to watch out for-
Support to the lower...
- Long-term support line
- 20d MA support on daily chart
- Ichimoku buy signal on daily chart
- increasing volume
- Good looking MACD
I think it's ready for a new ATH,
Caution: It can break support line like NANO did today! set your Stop-Loss please!
In this moment most of the coins I follow are retracing and UMA is pumping. Weird but I LIKE IT. My R are on the chart (this is a 1h chart so it's not a big picture). If you wanna jump in use a stop loss
Volume had almost flattened until recently. It has been climbing gradually and steadily for some time now.
MACD & RSI are poised to scale higher.
This accumulation in the channel means set your alerts and gear up for a fast and furious ride. My alert is set for 34.2. Once a breakout is confirmed, I won't hesitate.
In case of a breakout, my target is 76.
UMAUSDT wants to have a breakout from a descending trendline and daily resistance. IF the price will have a breakout,According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.