The technical analysis of UMA/USDT shows a set of indicators that point to a possible upcoming rise based on the current correction. Looking at the chart, the current price is at $2.597, and it has recently seen a -8.94% decrease, indicating a corrective movement. This movement can be considered an opportunity to take advantage of the expected rebound based on price and time cycles, and fractals that show profitable entry points.
Technical analysis details:
1. Support and resistance:
There are clear resistance levels at 2,606 and 2,694, which could represent hurdles before the price reaches higher highs.
Support levels are located near 2.505 and 2.487, which can be considered strong support points if the correction continues for some time.
2. Fractals and price cycles:
Fractals indicate the formation of successive waves of rise and correction, reinforcing the idea that this correction represents an opportunity for accumulation.
Looking at the time cycles, the current price action is within a short-term corrective cycle, which means that the current decline may be followed by a significant rise.
3. Time analysis and time cycles:
The time frames indicate that this correction is short-lived and nearing its end, which is in line with the fractal signals.
The price is expected to start moving upwards at the beginning of the next session, which may take the price to the resistance levels at 2.753 and perhaps more if the positive momentum continues.
Investment advice:
Based on scientific and technical analysis, this correction in the price of UMA/USDT can be considered a good investment opportunity. The price and time cycles and fractals indicate a possible upcoming price rise after the end of this correction movement. It is recommended to enter gradually at the current support levels (near 2.505) with an eye on the mentioned resistance levels as potential targets for taking profits.
Final recommendation: This analysis is based on scientific foundations using advanced tools such as time cycles and fractals. For new investors, this correction is an opportunity to profit
