UMA trend analysis:
K-line pattern:
●Recent K-lines show that price fluctuations have intensified, especially between 00:00 on May 10 and 17:00 on May 11, when a large price amplitude appeared. For example, at 23:00 on May 09, the long upper shadow line indicated that the seller's pressure increased.
●The closing price was higher than the opening price for three consecutive hours from 01:00 on May 10 to 03:00 on May 10, forming a series of increasing long real Yang lines, suggesting that buyers control the market.
Trading volume:
●When the price fluctuates greatly, the trading volume also increases accordingly, such as the trading volume at 00:00 on May 10 reaching 2500365.8000, which is positively correlated with price fluctuations.
●Trading volume has declined in recent hours, which may mean that market participation has decreased and subsequent trends may lack strong impetus.
Retracement operation: UMA Duodan
Point: Current price -3.950
Target: 4.200-4.350
Defense: 3.630
Stop loss should be set to prevent the market trend from reversing after breaking through this point and causing losses to expand