Technical analysis by The_Alchemist_Trader_ about Symbol UMA: Buy recommendation (6/9/2025)

UMA surged 26.54% from a high-confluence support zone, but price is now facing rejection near the $1.80 level. A key test is underway to determine if this rally has legs or if it was just a deviation.Key Highlights:Rejection wick formed at $1.80, signaling local resistanceKey support sits at $1.60–$1.40, now a flipped order blockHolding this zone opens the path to $2.55 continuationThe impulsive rally from a major support zone triggered bullish momentum, but price has already met rejection at $1.80. The rejection wick suggests short-term exhaustion or seller presence at resistance. Since then, price has retraced back into a key technical zone between $1.60 and $1.40, which previously acted as a supply region and now shows signs of flipping into support.This area also aligns with the local value area high, making it a zone of strong confluence. If bulls can defend this level and consolidate above it, the rally may continue toward the next target at $2.55.However, if UMA loses this support, it risks a full retrace back to the origin of the move—likely confirming this was just a range deviation rather than a breakout.