$UMA Short Opportunity? Bearish Momentum Confirmed š»
$UMA
Price: $3.402 (-8.57%)
Entry Zone: $3.45 - $3.47
Targets: šÆ $3.40 / $3.35 / $3.30
Stop Loss: š» Above $3.55
Market Insights:
$UMA is in a downtrend on the 1H chart, nearing the lower Bollinger Band, with an RSI of 32, indicating bearish momentum and a potential oversold condition. A drop below $3.45 could lead to further downward movement.
Support at $3.40 is crucial; if broken, the price may fall to $3.35 or lower. Watch for increased selling volume and use a tight stop loss above $3.55 to minimize risk.
Trend remains bearish, so exercise caution when enteringāmomentum is currently favoring sellers. š
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