Hello, dear members of LeoFinance!
Today I would like to comment on the price chart of UMA.
In the 4-hour chart (4H), UMA/USD has exited the Descending Triangle (common trend continuation pattern) and is trying to resume the uptrend:
However, I would like to outline that Descending Triangle is a technical pattern of medium reliability. That's why it is worth paying attention to the Ascending channel (uptrend) in the 1-hour chart (1H):
As long as the price remains within the trajectory of the channel the bullish sentiment will remain in place.
To be continued ...
As of the time of writing, one UMA costs approximately $27,16 on the CoinBase crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for last almost 15 years, and as a cryptocurrency analyst for last almost 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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