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UMA / TetherUS PERPETUAL CONTRACT

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UMAUSDT.P trade ideas

✴️ UMA Towards 8.888 (353% Growth Potential Within 1-3 Months) UMA has undergone one of the longest consolidation phase ever, moving sideways since May 2022. The bulls have been exposed by the charts: UMAUSDT is trading above its June 2022 low (A major bullish development). UMAUSDT is trading daily above MA200 after a high volume breakout. Bullish accumulation has been happening for years. Recent bottom hit followed by strong bullish action. Bitcoin and other major Altcoins all strongly bullish. Tether Dominance bearish. When Tether Dominance (USDT.D) goes bearish, money flows from stablecoins to Crypto (Bitcoin + Altcoins). MA200 denotes the long-term potential for this and other pairs. Trading above this level, fully confirmed, signals that we can experience long-term growth, higher highs and higher, higher, higher for years to come. Namaste.
Long
by MasterAnanda
1
$UMA Bullish Dragon / Broadening BottomA common look for macro reversals in this market. UMA looks to be at an early stage here. In the context of the 3day bullish dragon we would be looking for a break of the supply line, and and an impulsive move to the "hump" or last point of supply. Above that confirms the breakout of the dragon, and essentially, the local double bottom. That might be an area would could also anticipate a pullback, maybe for a checkback of 2.45 to test support. Above that would be 4.23 which is the overhead resistance of the right angled and descending broadening formation. This is also a zone we'd expect to see a pullback and usually a high and tight consolidation which ultimately gives you a partial decline if / when it retests the 4.23 level. 6.56 above that would be the measured move of the local double bottom which is right around the local 1.618 extension at 6.02, then 11.20 at the 618 would be the major dragon target, with the measured move of the broadening formation at 14.88, and 16 at the 2.618
Long
by TradingNomadic
UMA/USDT WHAT NEXT? 👀 UMA Today analysis💎 Paradisers, brace yourselves for a promising prospect with UMAUSDT, currently positioned in a demand zone and poised for potential moves. 💎 In our past observations, UMA broke free from its descending channel, embarking on an upward journey. However, it faced resistance at the 1.810 mark. Presently, as it navigates the demand zone, we foresee two potential outcomes. 💎 The first scenario could see it riding a bullish wave from the 1.438 demand level, aiming to challenge the robust resistance once again. Alternatively, should it dip below the demand zone, we might witness a retest of the crucial 1.233 support level. 💎 Remember to employ prudent trading strategies and use proper stop-loss measures! Stay alert to market movements and look forward to more insight
by MyCryptoParadise
🔥 UMA Bullish Channel: Highest Risk Reward Trade Of The DayUMA has been trading inside this bullish channel for over 6 months now. This trade is based on the idea that UMA will continue to trade within the channel. Keep in mind that BTC is currently in a short-term bearish trend, so a long-entry carries more risk from the start. To counter this, this particular trade has a very high risk reward ratio of 15.5 More defensive traders could take the safer trade with a lower SL and a slightly lower entry. Still, a risk-reward ratio of 10.53 is very good.
Long
by FieryTrading
5