In this UMA technical analysis, we will examine the current price action, trading volume, key levels and indicators for UMA-USDT. UMA is a decentralized financial platform that leverages blockchain technology to provide users with a wide range of financial services, including lending, borrowing, and trading. With its innovative smart contract architecture, UMA enables users to access these services in a secure, transparent, and user-friendly manner. By utilizing UMA’s decentralized ecosystem, users can enjoy greater autonomy and control over their financial assets, while also benefiting from the platform’s robust security features.
UMA Price Overview:
As of July 07, 2024, UMA is trading at approximately 1.963 USDT. Let’s dive into the detailed price action for UMA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 2.058 |
| High (H) | 2.06 |
| Low (L) | 1.932 |
| Close (C) | 1.963 |
| Volume (C) | 237,634.50 |
- Open (O): The opening price for today’s trading session was approximately 2.058 USDT.
- High (H): UMA reached a daily high of around 2.06 USDT.
- Low (L): The daily low for UMA-USDT was approximately 1.932 USDT.
- Close (C): At the time of analysis, UMA is trading near its daily close of 1.963 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.62% |
| 3D Change (%) | -0.56% |
| 7D Change (%) | -19.18% |
| 30D Change (%) | -41.10% |
| 90D Change (%) | -50.88% |
| YTD Change (%) | -11.85% |
Over the past three days, UMAUSDT has fallen by approximately -0.56%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -19.18%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with UMAUSDT maintaining a downward trend of approximately -41.10%, despite intermittent fluctuations. Examining the last 90 days, UMAUSDT has witnessed substantial decrease of approximately -50.88%, reflecting strong long-term confidence. Year-to-date, UMAUSDT has steadily declined by around -11.85%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
UMA Live Chart:
You can access a live price chart for UMA-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.88882.
- Momentum score is -0.34849.
UMA USDT Technical Analysis
UMA Trading Volume:
The trading volume for UMA (UMA) over the past 24 hours has been insignificant, with approximately 237,634.50 USDT traded against UMA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): UMA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): UMA is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for UMA-USDT is currently in the low zone, around 37.7247. This suggests that UMA is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
UMA (UMA-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Clearly see potential bearish trend for UMA (UMAUSDT) at 1.96 USDT through detailed technical analysis, highlighting weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on UMA BTC UMA Technical Analysis — a perfect follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.