UMA Does it Again: Heads Up for the 3rd Straight Day

The Hourly View for UMA

  • Currently, UMA’s price is down $0 (-0.07%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

UMA’s hourly price chart is shown below.

UMA

The Daily View for UMA

  • Currently, UMA’s price is up $0.06 (2.11%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as UMA has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between UMA’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in UMA’s price.

Below is a daily price chart of UMA.

UMA

Featured UMA Idea From TradingView

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