$UMA technical analysis of the UMA/USDT chart (1-hour timeframe) from your screenshot:
š Key Observations:
Price Action
Current Price: $1.678
24h High: $1.878
24h Low: $1.291
Change Today: +28.14% (strong bullish movement)
Candlestick Behavior
Huge green candle breakout followed by a red rejection wick near $1.878, showing resistance.
Price corrected to around $1.61 and is now consolidating.
š Moving Averages (MA)
MA(7): 1.548 (yellow)
MA(25): 1.401 (pink)
MA(99): 1.235 (purple)
ā
Price is above all major MAs ā indicating strong bullish momentum.
š Volume Analysis
Volume Spike: Big increase in volume before the breakout ā sign of strong buying interest.
Currently: Volume is dropping ā could be cooling off or waiting for next move.
š Performance Trend
7 Days: +50.81%
30 Days: +26.50%
90 Days: +53.30%
180 Days / 1 Year: Still negative, but short-term momentum is strong.
ā
Buy Signal Conditions:
Bounce off the 1.61ā1.63 zone (support zone formed after the breakout).
Price stays above MA(7) and doesnāt break below MA(25).
Volume picks up again on green candle = entry confirmation.
ā ļø Sell / Caution Signal:
Price fails to break $1.70ā1.75 range and starts closing below MA(7).
If price closes below $1.60, a short-term pullback might come (target $1.48ā1.50).
RSI/MACD not shown, but overextension suggests risk of retracement.
šÆ Trading Plan (Intraday/Futures):
Scenario Action Entry SL Target
Retest + bounce Long (Buy) $1.63ā1.67 $1.58 $1.78ā1.85
Break below $1.60 Short (Sell) $1.58ā1.60 $1.66 $1.50ā1.48
Strong volume + green Add to Long $1.68ā1.70 $1.63 $1.85+
š Final Verdict:
Right now, UMA/USDT is in a bullish phase, but short-term correction is possible due to the large wick at the top. Wait for a clear bounce from $1.60ā1.63 or a breakout with volume above $1.70 before entering a new long.
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