$UMA UMA Continues Bearish ๐โ ๏ธ | Downtrend Still In Control ๐ฅถ๐ป
๐จ UMA remains locked in a bearish trend, and thereโs little sign of reversal yet. The market is showing clear weakness, and the sellers still have the upper hand. ๐๐
๐ Lower highs and lower lows dominate the chart โ a textbook downtrend pattern. RSI is flattening near oversold territory but not bouncing, showing weak buyer interest ๐ฏ๐. Meanwhile, the MACD has confirmed a bearish crossover, signaling momentum is still pointed downward ๐ป๐.
๐ Volume spikes are favoring red candles, and sell pressure is increasing across key levels ๐ซ๐. Buy volume is drying up, making every bounce look like a fakeout ๐๐ญ.
๐ On-chain data shows whale distribution in progress โ big wallets are trimming positions, and exchange balances are rising ๐๐ฆ, meaning more tokens are being prepped for potential selling. Not a bullish sign. ๐จ๐ผ
๐ฌ Social sentiment is cooling off fast โ less chatter, less excitement, more caution ๐ถ๐ข. Wallet growth has also slowed, showing reduced network engagement ๐ค๐ฑ.
๐ Until key resistances are broken and indicators flip bullish, UMA may remain under pressure. Patience pays off, and itโs best to wait for clear breakout signals before re-entering. โ๏ธโณ
This is a market where caution wins. UMA could dip further if current sentiment holds. Watch carefully. ๐ง๐๐
โ ๏ธ Not financial advice โ always DYOR ๐ง ๐