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UMAUSDT trade ideas

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
UMAThis is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here personal message, i will try to answer to everybody... i can help you :) all for free, don't worry, BE HAPPY! If u like the analysis, please feel free to ask any question about this TA or crypto or any coin and also leave a comment or like or share the idea, i really appreciate it because then my work makes sense :) thanks!
Long
by SvarogPerun
4
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
Do you like money? Good because UMA is here for 600% PUMP!!!UMA is poised to make a massive leg up, causing up to 600% increase in price. I will be updating the chart as more price action happens, but at this point, I can see the following price targets: $60 $86 $112 $138 Margin trading not recommended. As UMA can retrace more. But I STRONGLY recommend you to start accumulating, placing your ladder buys from here onwards. Good luck gentlemen, may the gods of DEFI bless ya! ;)
Long
by XANABI_on_CHARTS
2
Possible double bottom on UMASo, market has been in disarray recently and I couldn't exit my trades before the dump so I'm stuck but maybe you guys can do something so I'm still sharing my TA. This looks a lot like a double bottom (bullish), so unless that green candle that pierces very little from that first top invalidates this pattern, this whould go up. Neckline is the dashed line, if a candlestick closes over that line might me the confirmation this is going up, you might play this in two ways: - wait for the price to go over the neckline and then enter. REMEMBER, very often price retests the neckline or goes a bit lower; - enter now It's up to you. I'm in until 45 (at least)
Long
by Shotokhan
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
Crypto|UMA/USDT|LongLong UMA/USDT Activation of the transaction only when the blue zone is fixed/broken. The author recommends the use of anchoring fixed the blue zone, this variation is less risky. If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea occurs at the prices behind the activation zone. The idea is to work out the resistance level . * Possible closing of a trade before reaching the take/stop zone. The author can close the deal for subjective reasons, this does not completely cancel the idea and is not a call to the same action, you can continue working out the idea according to your data, but without the support of the author. + Maybe right now we will go even lower, then it's okay, the idea is not activated and simply canceled. The "forecast" tool is used for more noticeable display of % (for the place of the usual % scale) of the price change, I do not put the date and time of the transaction, only %. Blue zones - activation zones. Green zones - take zones. The red zone - stop zone. Working out the stop when the price returns to the level after activation + fixing in the red zone. Orange arrow - the direction of take. Black arrow - neutral scenario without activating the trade. The red arrow - the direction of the stop. SUM PNL: This parameter displays the total % of all closed ideas of the "new" format (according to the author) for this sector at the time of publication of the idea. The calculation is very "clumsy" just the sum of the profits of all the ideas, based on this indicator, you can more accurately assess the risks when working with my ideas of this sector. I present you the construction of the idea, you can use it yourself as you like based on your subjective view and risks, the calculation of the PNL indicator is carried out only on transactions that the author closed on TV in manual mode or by take. P.S Please use RM (risk management) and MM (money management) if you decide to use my ideas, there will always be unprofitable ideas, this will definitely happen, the goal of the system is that there will be more profitable ideas at a distance.
Long
by Henry_Ross
4
UMA's chart patterns is like the seaSo, I started with bull flag, than a triangle, then a falling wedge and now, today's BTC/market dump changed UMA's pattern into a bigger wedge. Latest breakout is now a LH and we're within 0.5 and 0.618 Fib lines. In my personal experience most of reversal happens in this zone (as I've said in the past I expected a reversal on the falling wedge at 0.5 line. Off course that TA was done according with the former wedge. Today I've read a tweet of a trader from whom I've much respect and he said most of reversals (in general) happen between 0.618 and 0.786. I personally observed this happening in the precedent zone, I hope I'm right in this case despite him being much better than me in this field. BB suggests it could revers even now but I took a look at the bigger picture (weekly chart) and I won't rule out a possible price decrease even this week because this current week started today and there's a red candle that could remains red. Let's see how this thing evolves, if you didn't sell before you should do it now for sure. Remember my first reasonable target for this is 45$
Long
by Shotokhan
8
never ending wedge is about to endI can assure if you're bored waiting for this shit to exit from the falling wedge, I'M MORE! Today it's been 13 days I'm into this, all because I forgot to check fibonacci retracement before entering. Anyway, the project is good and I'm still convinced that this can do 45$, 60$ and eventually 100$. The company have been collecting prize and special mentions, they just lack of good marketing! But let's get back to TA: currently BTC's pumps is draining many coins/tokens in my watchlist and, off course, this drain is affecting much more DeFi and DEX tokens. Thanks BTC, you MOFO! Anyway I hope it'll stop overnight, meanwhile I think that there are two options: -realistic option: we hit the lower level again, hopefully for the last time. At this rate I think within 2 days we should bounce back to the upper resistance and break out. If this doesn't happen it means this pattern will change again as it did previously. Price into falling wedges can reach the apex without invalidate the pattern (differently from triangles) but if this happes means a very slow bounce back or a bearish situation; -optimistic option: as soon as BTC stop messing DeFis UMA gains volume and, since has been testing the wedge resistance all the afternoon, breaks out. I don't think this will happen though so have patiente for 2 days and we'll see!
by Shotokhan
6
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 changed its pattern againLast night BTC dumped dragging the market with it, UMA included. This changed the chart pattern into a big bull flag. Yesterday I had checked UMABTC pattern which is less important than the stable coin pair and it was already in a bull flag, so now they both pairs have the same pattern. Now there are 2 possiible ways out: 1) volume spikes bringing new liquidity and the price will do something similar to the green pattern I've drawn; 2) price will keep retracing but, according with TA rules, usually bull flags end retracement around 0.5 Fib level which shoul be the area of the bounce back attracting new liquidity because of the proximity to the break of the pattern (yellow line), By default I'm never optimistic, I try to be realistic with a tendency to pessimism, so I'm expecting option 2 with a bounce which can be around 0.5 Fib, not necessarily exactly on the line. A thing is certain though, I expect a break out within 3-4 days. If, like me, you're in from more than a week keep up and don't sell before this thing touches AT LEAST 45, but keep in mind that it has the potential to go much more. Let's squeeze the maximum profit out of this fucker, it's the least it can do after so much patience! P.S. green dashed line within the flag is a resistance I had identified days ago and, currently, coincide with 50 EMA line at this timeframe and 200 EMA at 1h timeframe
Long
by Shotokhan