⚡ $UMA Surges Nearly 17% — But Is It a Breakout or a Bull Trap?

Current Price: $1.280

24H Move: +16.89%

High of the Day: $1.389

Strongest candle in weeks just printed — but context is everything.

📊 Moving Averages:

7 EMA (Yellow): $1.119

25 EMA (Purple): $1.145

99 EMA (Blue): $1.183

All MAs have been reclaimed with force — bullish short-term shift confirmed.

📈 Technical Snapshot:
✅ Bullish Momentum:

UMA just broke above congestion zone between $1.12–$1.18, which acted as resistance for weeks.

First strong move since mid-May with volume spike — indicating potential start of new leg.

Closing and holding above $1.30 could ignite a push toward $1.45–$1.60 range.

❌ Caution Signals:

The chart has shown multiple sharp wicks up, followed by fade-outs — watch for bull trap behavior.

Needs consolidation above $1.20 to confirm breakout integrity.

📌 Key Levels:

Immediate Resistance: $1.32–$1.35

Major Resistance Zone: $1.50–$1.60

Support Now: $1.18 (99 EMA) and $1.12 (25 EMA)

🧠 Sentiment:

Structure shifting bullish in short term, but still inside a wide chop zone long term.

Watch for follow-through in next 1–2 candles — if not, classic wick dump scenario might repeat.

DYOR – Do Your Own Research.

This is not financial advice. Markets can be volatile — always trade responsibly!