UMA Crypto Price Levels

UMA cryptocurrency is currently down a huge 95.6% from the all time high of $45.17 which was set on the 4th February 2021. The correction has been so harsh, it seems many investors and speculators have simply forgotten about this project.

Prior to the crypto bull run of 2021 investing in UMA would have prospered traders with massive returns. We have to ask ourselves, could current price levels offer similar returns in the next crypto bull market?

$1.85 is a very important support level which UMA must now respect. If we do break below this support level, UMA would be likely to come back down to $1.62.

Buying UMA Crypto back in 2021 at current price levels would have generated 1,720% returns on investment.

Cryptoassets are a highly volatile unregulated investment product.

UMA Crypto Price Prediction 2022

From a technical analysis point of view, UMA is still in a macro-down trend. Especially with Bitcoin recently plummeting through the 200-week moving average.

Despite the major corrections we have seen, UMA is still very much focused on spinning the cogs behind the scenes and are working on network developments and protocol upgrades.

Upon looking at the charts it seems UMA also trades with massive volatility and large impulse waves. Usually these are also followed by large correction waves. It has been a while since we’ve actually seen an impulse for UMA. Could we see one soon?

UMA Crypto Symmetrical Triangle

UMA Crypto Price Chart – 4 hour time frame

UMA crypto currently resides within a symmetrical triangle pattern. We can see the price action is now beginning to reach the end of the triangle. This is where the support and resistance trend lines converge and we would soon expect a break out.

The technical price target upon breaking out to the upside is around a 72% pump to the upside. This would take us to about $4.20. On the other hand, should UMA lose support at $2.33 (lower trend line) we could see continuation to the critical support level of $1.87.

What is UMA Crypto?

Universal Market Access (UMA) is a protocol for the development of synthetic assets deployed on the Ethereum blockchain. UMA is approaching its 4th Birthday, having been launched in December 2018.

Synthetic assets are a category of assets that portray different, underlying assets but have the same value. Basically, UMA enables its users to create self-executing and enforcing financial contracts which are secured by economic incentives. These can then be run on the Ethereum blockchain.

UMA allows counterparties to digitize real financial derivatives. You may already be familiar with some of these. For example, futures or total return swaps. UMA is an optimistic oracle which is built for Web3.

Web3 will potentially be playing a huge part in our future and also has an integral role within the blockchain environment. I would certainly think this could be a strong project to include in a healthy and diverse cryptocurrency portfolio.

Cryptoassets are a highly volatile unregulated investment product.

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