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- UMA price might see a negative crossover in the 50 and 100 DMA. This negative crossover can push the price to a much lower level.
- Technical Indicators suggest a consolidation with a hint of bearish momentum for UMA. Meanwhile, UMA/BTC pair is seeing a gain of 12%.
UMA price is currently at $26.63, with a gain of 4.5% while hinting at a downtrend. UMA price might face resistance on the upside at $32. Meanwhile, a bounceback for the coin can be seen from $20.
The price of the coin is trailing above 50 and 100 Days Moving Average (MA). The 50MA (RED) line is at 25.133, making it support for the coin. The price might see a negative crossover in between 50 and 100 MA. If this happens, then there is a strong possibility that the price might see a downtrend till $15. UMA/BTC pair might also see a downside correction in the upcoming days.
UMA is ranked 82 with a market capitalization of $1,568,984,610.98. The Total value locked for the coin has also seen an increase. The volume to Market capitalization ratio for the coin is 0.1235. If it goes above 0.75, then a strong buying rush can be seen in the price.
Technical Indicators Hints A Consolidated Momentum For UMA Price
The weekly technical chart for the UMA highlights a consolidated momentum. UMA price is currently approaching its 30 days low. If the price crosses 30days low, then a strong downtrend can be seen. The daily chart of UMA highlights a strengthening bullish momentum. On the daily chart, the coin has formed an accumulation zone.If the price goes down below the accumulation zone, then a bearish momentum can be seen. UMA/BTC pair might also see a downtrend in the upcoming days
The volume indicator for UMA is at 349K with selling pressure. If the price goes above $35, then a strong buying volume could be observed.
RSI(Neutral): It is currently at 49.76, showcasing its presence in the neutral zone. There is a small negative slope formation in the RSI, highlighting the price might see a downtrend in upcoming days. The overall sentiment of the RSI is Neutral.
Conclusion
UMA has been one of the most anticipated projects due to its unique features. It has given huge returns to the investors and can continue to do so in the future. An Investor should do their due diligence before investing.
Technical Levels
Major Resistance:$32
Major Support:$20
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
