UMA / TetherUS
Long

UMA 300% bull flag ??

1492
On the above 5 day chart price action has corrected almost 80% over the summer months. Retail traders have capitulated. Now is a good moment to consider a long positions before they FOMO back in.. why?

1) Price action and RSI resistance breakouts.

2) Support on past resistance. Red circles.

3) The bull flag itself forecasts a 300% to $10

Is it possible price action corrects further? Sure.
Is it probable? No

Ww

Type: trade
Risk: you decide
Timeframe for long: 2-3 days
Return: 300%

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.