Based on the chart, UMAUSDT has experienced a strong bullish move, reaching a high of 1.432 before pulling back slightly. Here’s a potential trade setup:
Trade Setup (Long Position)
Entry: $1.33 - $1.35 (Current pullback zone)
Take Profit (TP):
TP1: $1.42 (Recent high)
TP2: $1.50 (Potential next resistance)
Stop Loss (SL): $1.27 (Below key support)
Technical Indicators Supporting This Setup:
RSI: Overbought at 87, which may indicate a pullback before continuation.
MACD: Showing bullish momentum.
Volume: High, indicating strong buying pressure.
Alternative Short Setup (If Price Fails to Hold Above 1.33)
Entry: Below $1.32
Take Profit (TP): $1.27 (First support), $1.22 (Major support)
Stop Loss (SL): Above $1.37 (Break of recent high)
This trade depends on how UMA reacts at the 1.33 level—if it holds, a long trade is preferable; if it breaks, a short may be viable. Trade carefully!
