UMA (UMAUSD) Sellers Continue to Fill up Price Volume in the Market
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UMAUSD Analysis – The Market Sellers Continue to Fill up the Price Volume in the Market
UMAUSD sellers continue to fill up the price volume in the market. The price fraction shows that the sell traders manipulate the market despite its consolidation. The sellers, however, focused on pushing the price down to the $4.500 significant level of the market. The market’s bearish activity is anticipated to get to this level before the buyers enter the market, which may bring about price consolidation.
UMAUSD Significant Levels
Resistance Levels: $23.830, $14.160
Support Levels: $9.260, $4.530
Following the price’s consolidation into the $9.260 significant market level, the bulls dabbled in the price structure with sharp liquidity run in the market. However, the pressure failed to strengthen to the significant level of $14.160. This level, therefore, proved to be a rejection level for the buyers as they were unable to penetrate. As a result of their less influence in the market, the sellers begin to lower the price tendency.
The bearish trend generally appeared when the bulls also rejected prices at around the $23.830 significant level in the market. The selling pressure since then has been increasing as UMAUSD continues to decrease. The RSI (Relative Strength Indicator) shows price distribution in the sell direction. The bearish potency has been strong in the market, and the price may even break through the $4.530 significant level in the market.
Market Expectations
On the 4-hour chart of the UMAUSD, the price is visibly trending down while still in a consolidation phase in the market. The marked region shows the price accumulation, and the sellers are currently yielding the price direction downward. If this pressure increases, the price will go below the $4.530 significant level.
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