Technical analysis by mrnikofrench about Symbol UMA: Buy recommendation (2/18/2024)

It looks like there is a bullish set up on UMA coin which might translate to a price increase to the upward. My initial target would be at the 100 fib channel line around the $6.10 range. The confirmation for the price to continue upward is the 4hours long red candle that was followed by a short green candle which form a Piercing pattern (Bullish). Stop loss should be below the wick of the green candle around the $4.28 price mark. Not a financial advice.Stop loss was reached. But there is a better entrance around the $4.06 range since the red horizontal line is acting as a support. Same take profit target. Trade is closed.