$UMA /USDT recently bounced strongly off the $1.25 support zone, and has formed a string of higher lows and highs. Indicators like RSI (65) and a slew of “Strong Buy” signals across multiple moving averages confirm bullish momentum.
Support / Resistance:
Support Levels:
$1.25 – Confirmed recent low and bounce level.
$1.20 – $1.14 Further down, identified in broader technical analysis.
Resistance Levels:
$1.60 – $1.65 Represents the 38.2% Fibonacci retracement from recent highs, currently acting as resistance.
$1.88 Next major resistance zone outlined by technical models.
Entry Zones:
Primary Zone: $1.40 – $1.45 ideal for entering long positions near a key breakout range.
Take-Profit Zones:
TP1: $1.60 aligned with Fibonacci resistance and previous highs.
TP2: $1.88 next structural ceiling based on technical resistance.
Stop-Loss:
Suggested: ~$1.25 just below critical support to manage downside risk.
UMA’s recent rebound from $1.25 suggests renewed bullish interest. Traders may look to enter between $1.40 $1.45, targeting $1.60 (TP1) and $1.88 (TP2) while managing risk with a stop-loss near $1.25. The breakout above the $1.60–$1.65 zone could confirm continuation toward $1.88, supported by momentum indicators in favorable territory.
