Get started

UMAUSDT

How Profitable Is UMA's Recovery?After reaching the important support level between $18-$20, UMA started rebounding. Let’s see how much potential profit UMA could bring us if we bought in now! Backstory: UMA’s previous strong growth was mainly due to an announcement regarding the arrival of the uSTONKS synthetic token. uSTONKS tracks an index consisting of ten stocks that are most commented on r/wallstreetbets. Wallstreetbets is a Reddit that gained popularity after pumping certain stocks (such as GME and AMC), making hedge funds lose billions of dollars in a short squeeze. Recovery and Potential Profit When the hype regarding uSTONKS started to die down, UMA’s price began descending. The price eventually reached $17, or 60% lower than the all-time high. Since then, the token has consolidated for a while, and now it looks like it is trying to start a new uptrend. If UMA were to recover to its all-time high, it would mean a 110% increase in price, which would essentially more than double your funds if you were to invest now. A minor resistance on its way to a full recovery is the $24 price point. Breaking above $24 significantly would probably mean that UMA is attempting to reach its all-time high again. Uncorrelated: One excellent aspect about UMA is that it is not as influenced by Bitcoin as the rest of the market. For example, when Bitcoin was trending strongly in October and November 2020, UMA wasn’t moving much. The token made its most substantial moves when it had positive news. Disclaimer: We do not give trading recommendations; we only break down potential trades. Always do your own research before entering any position.
Long
by cryptohopper
3
UMAUSDT (UMA) - POTENTIAL BUY ENTRY ANALYSIS 🔎 - UMAUSDT brokeout above the horizontal resistance level and hit an ATH - Price then retraced for a retest of the flip horizontal support and 0.618 fibonacci retracement level. - RSI is printing a bullish divergence signal (BDS 🔼). - The retracement is bounded in the falling wedge pattern. - A falling wedge pattern is a bullish reversal pattern. - A breakout above the falling wedge's resistance could be an uptrend continuation signal. - Price action is printing a double bottom pattern at the retest area. - A double bottom pattern is a bullish reversal pattern. - There's a breakout potential. BUY ENTRY ⬆️ - Breakout above the falling wedge's resistance. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). - Fibonacci extension levels. SETUP INVALIDATION ❌ -Breakdown below the double bottom horizontal support level.
Long
by Chibuike_Odoh
2
UMA - Decision Time is upon us! 67%+ Gains Potential! Hello Traders, Here is one of the more unique projects the cryptosphere has to offer. #1. This is great bc there isn’t a lot of competition in the direction this company is taking. But as a lot of bigger people in the crypto market like to say, this could be a bad thing bc competition is what allows a company to get more creative and to speed up what they offer. Though, I still believe this company is just budding and we will see big things from it in the future. #2. Circulating supply is very low, with only 56 Mil coins currently circulating. Max supply is just over 100 mil. Which will allow for a higher demand once this coin finds it’s footing. #3. Like stock derivatives, but with a crypto/defi twist — UMA is focused on building “priceless” derivatives on Ethereum. The space has been quoted to be worth between 500 Trillion and 1 Quadrillion $$$. While this is all speculation until it starts to take hold, I do believe it’s something to dive deeper into to get a better understanding of. You can read more about what they do here: docs.umaproject.org Technically speaking, I’m seeing a 3-dive pattern forming in the downward channel. Depending, if we can find a support, which we hold, then we should see a strong move up. But to be honest, this is one we want to hold and hold for the long term to realize the true potential this amazing market will be able to offer. Good luck!
COINBASE:UMAUSDLong
by MarkStPeter
2
🆓UMA/USDT Analysis (24/2) #UMA $UMAThere is good buying force at 20$ zone and now it is heading to 30$ zone, this zone is very strong so I think it will take us some days to break through this zone to move up to re-test the ATH at 42$ zone 📈BUY -Buy: 20-21$. SL if B -Buy: 29-30$ if A. SL if B 📉SELL -Sell: 29-30$. SL if A -Sell: 41-43$. SL if A ♻️BACK-UP -Sell: 20-21$ if B. SL if A -Buy: 15.5-16.5$. SL if B ❓Details Condition A : "If 8H candle closes ABOVE this zone" Condition B : "If 8H candle closes BELOW this zone"
Long
by CryptoStation
1
UMAUSDT (UMA) - POTENTIAL BUY ENTRY ANALYSIS 🔎 - UMAUSDT is printing a falling wedge pattern. - This is reversal pattern. - A bullish pattern to be precise. - Price action is printing the double bottom pattern. - This is also a bullish reversal pattern. - RSI is printing a bullish divergence signal. - Price is testing the falling wedge's resistance and double bottom neckline resistance. - There's a breakout potential. BUY ENTRY ⬆️ - Breakout above the falling wedge's resistance and the double bottom neckline resistance. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). SETUP INVALIDATION ❌ - Breakdown below the double bottom horizontal support level (S1).
Long
by Chibuike_Odoh
11
UMA update: Consolidating in range, potential to break downUMA continues to consolidate in this range in very low volume. It could range like this for several days. NOTE: the overall altcoin market condition right now (Sunday, 2.14.21) is in CORRECTION. Very few alts are pumping today. We just had a major week of huge altcoin pumps, this correction is normal and expected, but there's no telling if it will continue to sell off into monday and onwards, of there will be a strong bounce back soon. Best course of action: follow your coins on your watchlist carefully, and look for good entry conditions. UMA right now looks good consolidating in a very low volume range. But the price swings can be huge. See that there is a potential 20%+ drop to lower support, so if you enter now, be prepared for 20% drops. It's possible to set buy bids in the 24.9 area which is the lowest support zone in this range. I would not enter UMA now unless you have a very long fundamental bullish opinion.
by EddieTradez
4
UMA LONG, pumping out of support into right side of baseUMA potentially entering a pump out of the support area, with a 40% runway to previous ATH. First profit target is previous high of 44.12. Potential profit taking targets of 20% on the way to 40%. Resistance expected at ATH. Potential add on if confident to add after breakout from ATH Crypto 2021 Strategy notes: I enter trades in 5 and 10% positions (of total trading portolio). If possible I look to add to succesful positions to a max of 25% total of portfolio. For this cryptocurrency 2021 bull market, my profit taking targets are around 40-50%, in quarters, thirds or sometimes halfs. I look for 80-100% gains for further profit taking. Depending on the coin and cycle of its pumps, I hold some of my position through 100-200-300% returns on the lucky ones, taking profits on the way up. ($LUNA, $ADA)
Long
by EddieTradez
4
UMAUSDT (UMA) - POTENTIAL BUY ENTRY ANALYSIS 🔎 - UMAUSDT was printing a falling wedge pattern. - This is a bullish reversal pattern. - Price brokeout above the falling wedge's resistance. - Price retraced and tested the 0.618 fibonacci retracement level. - Price action is currently printing an ascending triangle pattern. - This is a bullish build up pattern. - There's a breakout potential. BUY ENTRY ⬆️ - Aggressive (risky): current market price (now). - Conservative: breakout above the ascending triangle's horizontal resistance. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). SETUP INVALIDATION ❌ - Breakdown below the ascending triangle's inclined support.
Long
by Chibuike_Odoh
UMA creating a descending triangle UMA is looking very undecided at the moment. Looking at the chart, we are seeing a clear downtrend. Yet, if we pay attention to the RSI, it signals that UMA is a bit undervalued at the moment, on the hourly chart. On the 4 hour chart, it does signal slight overboughtness, increasing it on the daily chart, which indicates that we are being overtaken by a bearish trend. Similarly to the RSI, on hourly chart MACD is also undecided and can go either way from here. Confused as probably you are, I decided to dive and investigate the on-chain data and where does signal a clear bullish trend which may mean that we are now is a perfect buying zone. This also proved with the Fibonacci retracement. We are also coming to an important breaking point of a descending triangle which started its creation since our huge breakout on 3rd of February and later today we should confirm breakout or breakdown from the triangle. With this all in mind, we have two scenarios: 1. Jump to 34 EUR and confirm the new all time high 2. Fall to 14 EUR where we have solid support from the early investors Let me know your opinion on this and let's discuss our best moves here. Happy trading. If you would like to receive more useful information from me, feel free to support me. I am receiving donations in ETH: 0xb956624FD00377DBE5ce1c5dc43f5d3fA4e97f38
UShort
by grubobeats