- UMA price is inside an accumulation zone with a hint of bearish momentum. In contrast, UMA price is seeing a consolidated momentum with a gain of 0.7%
- Technical indicators hint at bearish momentum for UMA price. In contrast, UMA/BTC pair is also in a uptrend
Why To Invest In UMA Token?
UMA, or Universal Market Access, is a platform for the creation of synthetic assets based on the Ethereum (ETH) blockchain. It was launched in 2018 and since then it has seen a unprecedented gains. These allows counterparties for digitalization and automation of any real-world financial derivatives, such as futures, contracts or swaps. The contracts are based on Ethereum blockchain, whose permissionless nature allows any user to create, run and trade digitized derivatives unlike the traditional one. UMA token price has seen significant gains in the past and can continue to do the same in future.
UMA asset is ranked 88nd in cryptoverse with a market capitalization of $1,330,048,488. The volume of the asset has seen a decrease of 15% in the last 24 hours. The total value locked in UMA has also seen a significant increase over time.
Technical Indicators Suggests A Downtrend In UMA Token Price
UMA price is on a downtrend and can see negative crossover in the Moving Average. Meanwhile, a small hint of bullish momentum can be seen on the weekly chart . The coin price resistance region can be observed near $24. The support region for the asset price can be observed near $9 .The price is currently trailing below the 50 and 100 daily moving average on the chart. The 100MA (YELLOW) line is at $23, making it temporary resistance for the price. The coin price can see the downtrend strengthening in upcoming days. UMA/BTC pair is currently on a slow uptrend but can soon see a major breakout.
MACD(Bearish): MACD is moving in a bearish zone where the MACD line is below the signal. There is a positive slope formation in the signal line which hints at a positive crossover for the future. The overall sentiment for the MACD is bearish.
UMA or Universal Market Access token has seen a strong uptrend in the past . In present market scenario UMA token price is currently on a bearish move. It can soon see the reversal in the trend .An investor should do their due diligence before investing