In this UMA technical analysis, we will examine the current price action, trading volume, key levels and indicators for UMA-USDT. UMA (UMA) is a decentralized financial platform that enables users to access a wide range of financial products and services, such as lending, borrowing, and trading, all within a trustless and permissionless environment. UMA’s innovative smart contract architecture allows for the creation of customizable financial instruments, providing users with a high degree of flexibility and control over their financial transactions. By leveraging blockchain technology and smart contracts, UMA aims to revolutionize the traditional finance industry by providing a more secure, transparent, and accessible alternative to traditional financial systems.
UMA Price Overview:
As of October 02, 2023, UMA is trading at approximately 1.388 USDT. Let’s dive into the detailed price action for UMA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.45 |
| High (H) | 1.455 |
| Low (L) | 1.356 |
| Close (C) | 1.388 |
| Volume (C) | 444,672.60 |
- Open (O): The opening price for today’s trading session was approximately 1.45 USDT.
- High (H): UMA reached a daily high of around 1.455 USDT.
- Low (L): The daily low for UMA-USDT was approximately 1.356 USDT.
- Close (C): At the time of analysis, UMA is trading near its daily close of 1.388 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.14% |
| 3D Change (%) | -3.34% |
| 7D Change (%) | 1.68% |
| 30D Change (%) | 0.80% |
| 90D Change (%) | -16.94% |
| YTD Change (%) | -7.28% |
Over the past three days, UMAUSDT has fallen by approximately -3.34%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.68%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with UMAUSDT maintaining an upward trend of approximately 0.80%, despite intermittent fluctuations. Examining the last 90 days, UMAUSDT has witnessed substantial drop of approximately -16.94%, reflecting strong long-term confidence. Year-to-date, UMAUSDT has steadily dropped by around -7.28%, 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 0.4418.
- Momentum score is 0.00799.
UMA USDT Technical Analysis
UMA Trading Volume:
The trading volume for UMA (UMA) over the past 24 hours has been insignificant, with approximately 444,672.60 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 neutral zone, around 47.26004. This suggests that UMA is in range-bound 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
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.
