$UMA technical analysis of the UMA/USDT chart (1-hour timeframe) from your screenshot:

🔍 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.

📈 Moving Averages (MA)

MA(7): 1.548 (yellow)

MA(25): 1.401 (pink)

MA(99): 1.235 (purple)

✅ Price is above all major MAs — indicating strong bullish momentum.

🔊 Volume Analysis

Volume Spike: Big increase in volume before the breakout — sign of strong buying interest.

Currently: Volume is dropping — could be cooling off or waiting for next move.

📊 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.

✅ Buy Signal Conditions:

Bounce off the 1.61–1.63 zone (support zone formed after the breakout).

Price stays above MA(7) and doesn’t break below MA(25).

Volume picks up again on green candle = entry confirmation.

⚠️ Sell / Caution Signal:

Price fails to break $1.70–1.75 range and starts closing below MA(7).

If price closes below $1.60, a short-term pullback might come (target $1.48–1.50).

RSI/MACD not shown, but overextension suggests risk of retracement.

🎯 Trading Plan (Intraday/Futures):

Scenario Action Entry SL Target

Retest + bounce Long (Buy) $1.63–1.67 $1.58 $1.78–1.85

Break below $1.60 Short (Sell) $1.58–1.60 $1.66 $1.50–1.48

Strong volume + green Add to Long $1.68–1.70 $1.63 $1.85+

📌 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 $1.60–1.63 or a breakout with volume above $1.70 before entering a new long.

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