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UMA / TetherUS PERPETUAL CONTRACT

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UMAUSDT.P trade ideas

UMA/USDT trend reversal 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 yusufomerfx
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 bull flag turned into a triangleAt 1h and 4h timeframe the bull flag has turned into a triangle while at daily timeframe it's still a bull flag. I personally would prefer it would work as a daily bull flag because the potential target would be sooo good but meanwhile I wanna stay realistic and watch at the more possible gain: the triangle! Target is shown on the chart. Notice I've drawn the base of the triangle based on the volumes so it's either the first yellow dashed line (more possible) or the second (I hope not). The red dashed line is the point where many people entered the trade since the bull flag/triangle was forming. Off course everything going bad in the market is BTC's faults
Long
by Shotokhan
4
Bull flag is still thereI've tried to do a video idea but I don't know why I couldn't upload it. Anyway I wanted to explain why I was bullish on this last night. I'm the first victim of my last night idea because I've entered between 33 and 34USDT but it was a false breakout, moreover on my defence it was difficult to foresee that BTC would start behaving like it did last night (UTC +1). Up to last BTC pump alts followed it, last night instead it behaved like it used to do in a certain period between 2017 and 2018 draining money from alts. As a matter of facts most of the alts I'm following are at loss this morning. Bummer! Anyway, as you can see the bull flag strucure is still there and in this second part the chart hast tested more than once the upper level of the flag. My idea is that if volume spike up and BTC stops draining money from alts we should be able to get out of this. My advice is: do not panic sell! I've been there multiple time, I still struggle to control my emotions but trust me when I say that panic buys and sells rarely take to profits. In a bull season you do not have to sell unless, for some reason, only the coin you're into is plummeting while all others pump. In that case there isn't a general drop and then you've to save your profit. But in this case a lot of coins, among which the most famous, dropped which means the dump was generalized. So, do not lose money, do not panic sell. Summary: as soon as BTC go quiet and UMA volume goes up we should recover our loss and even make profit.
Long
by Shotokhan
7
UMA (DeFi) Protocol Outlook Ahead❇️UMA Fundamentals; UMA Protocol is a Decentralized Finance (DeFi) Protocol on Ethereum for any two counterparties to create their own financial contracts and synthetic assets. The protocol uses a model known as Total Return Swap, which is a bilateral contract where one counterparty pays the total return of a specific underlying asset, including interest payments or dividends and any capital appreciation or depreciation. Conversely, the opposing counterparty pays a regular fixed cash flow. The underlying asset is commonly called a reference asset, and the swap is settled and terminated at a specific date in the future. The UMA token is primarily used for protocol governance and grants the token holder the right to vote on governance decisions such as upgrades to the Data Verification Mechanism (DVM), creating new synthetic assets and settling disputes on liquidated collateral. UMA is designed to power the financial innovations made possible by permissionless, public blockchains, like Ethereum . Using concepts borrowed from fiat financial derivatives, UMA defines an open-source protocol that allows any two counterparties to design and create their own financial contracts. But unlike traditional derivatives, UMA contracts are secured with economic incentives alone, making them self-enforcing and universally accessible. ☑️The latest losses in the UMA market has also followed its association with SushiSwap, a fork of Ethereum-based decentralized exchange (DEX) Uniswap. Ahead of its rally, the founder of SushiSwap had asked users to swap Ethereum for UMA at UniSwap. He further asked the so-called yield hunters to earn SUSHI tokens by transferring UMA from UniSwap’s liquidity pool to its own. Nevertheless, after the founder exited the SUSHI market following a strong price rally, traders started assuming SushSwap as an exit-scam. The anonymous creator returned later with a name and refuted the allegations. He returned the $14 million worth of ETH that he had secured from the Sushiswap reserves. The price of SUSHI soared by more than 25 percent after that. But UMA had suffered damage until then. It is now likely for the token to recover its recent losses now that the dust of Sushiswap is behind. And if it doesn’t recover, then $10 appears like a first target that may excite bulls into purchasing UMA. ------------------------------------------------------------------------------------ ❇️Technical Outlook Ahead If bears remain persistent, then UMA/USDT may likely continue their downtrend inside the Descending Channel while targeting certain levels on its way south. That brings $8.38 as the next potential downside target, also because of its brief history of guarding one bias against the other. If the price moves below it, then traders could extend their bearish target towards $6.38. In the meantime, UMA/USDT would keep testing the lower trendline of the Descending Channel as its support. If the pair bounces back, it would do so towards the upper trendline of the Channel, followed by a repeated breakout attempt above the $20 range. As it happens, the market would need to claim the 61.8% level of its bigger Fibonacci Graph to establish a bullish reversal ------------------------------------------------------------------------------------- 👉This analysis is my personal opinion and you are responsible for your own trades or invests. ❤️with Best Regards and successful trades.
by PRO_SMART_Trader
UMAUSDT is trying to have a breakout🦐$UMA.X is trying to have a breakout from a bullflag. IF the price will have a breakout upward and flip the current 4h resistance into new support, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
14