UMA has undergone one of the longest consolidation phase ever, moving sideways since May 2022.
The bulls have been exposed by the charts:
UMAUSDT is trading above its June 2022 low (A major bullish development).
UMAUSDT is trading daily above MA200 after a high volume breakout.
Bullish accumulation has been happening for years.
Recent bottom hit followed by strong bullish action.
Bitcoin and other major Altcoins all strongly bullish.
Tether Dominance bearish.
When Tether Dominance (USDT.D) goes bearish, money flows from stablecoins to Crypto (Bitcoin + Altcoins).
MA200 denotes the long-term potential for this and other pairs. Trading above this level, fully confirmed, signals that we can experience long-term growth, higher highs and higher, higher, higher for years to come.
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