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UMAUSD Remains Prominent in the Bearish Domain

May 14, 2022

#Crypto#Crypto Analysis#CRYPTOCURRENCY#Daily Chart#Market Expectation#Price Action#UMAUSD

UMAUSD Analysis – Price Remains Prominent in the Bearish Domain

UMAUSD remains prominent in the bearish domain; the price is attempting to touch the $4.310 key level. The crypto market displays price preference by trading lower as more coercion is being applied by the sellers. As the crypto price continues to flow downward, traders should expect either a further drop below the $4.310 important level or a bounce forward.

UMAUSD Crucial Points

Resistance Points: $24.200, $15.200
Support Points: $10.300, $4.310
UMAUSD Remain Prominent in the Bearish Domain.
UMAUSD value began to decrease due to the buyers’ ceasing to pull more resources above the $24.200 significant point. The prospects faced repudiation when the token arrived at $24.200, where the selling merchants began to lower the price. This, therefore, gave strength to the bearish rally as the crypto market has faced a downward moment for a long time.

The buyers withdrew their strength due to less impact. Various levels of influence were cracked as the bearish stronghold continued. Price faced bullish resistance when it broke through the $10.300 significant point to the low of $4.310. The buyers tried to push its influence beyond the 10.300 key level but failed as UMAUSD encountered repudiation at this level. The buyers plunged the price with a strong liquidity pool but failed to go beyond the $10.310 key level. The selling merchants are now trading prices down due to the cryptocurrency still being in a bearish domain.

UMAUSD Remain Prominent in the Bearish Domain.
Market Expectations

The trend continues to be bearish due to an increase in strength. The Parabolic SAR (Stop and Reversal) values the price moment downward as the bearish inclination plays downward. The Relative Strength index also values prices downward in the market due to the bears’ prominence as they trade off back to the $4.310 significant point.

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Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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