UMA Price Prediction: UMA Surges 17% As Analysts Say This New GameFi Challenger Might Be Next To Explode

DailyBlockchain.News AdminJanuary 22, 2024

3 minutes read

Uma Price Prediction: Uma Surges 17% As Analysts Say This

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The UMA value soared 17% in the course of the Sunday buying and selling session and stays 7% up over the past day to commerce for $5.75 as of two:30 a.m. EST time.

The surge catapulted UMA into the weekly prime gainers’ listing.

🔥 How did the #crypto market carry out final week? Which cryptocurrencies captured traders’ hearts and have become shining stars? The thrilling Weekly TOP Gainers on is now revealed! #XT

📅 Jan 15 – Jan 21, 2024

🚀 #UMA/USDT +231%
🚀 #OM/USDT +90%
🚀… pic.twitter.com/chqA1GB3Lg

— XT.com Alternate (@XTexchange) January 22, 2024

In the meantime, there’s chatter concerning the UMA token listing on Hotscoin. The hype round this milestone is holding the UMA value above the $5.000 psychological degree.

🚀 @UMAprotocol $UMA(uma) will quickly be listed on #HotsCoin

🔥 Pair: UMA/USDT
💼 Community: ERC20

⏰ Buying and selling: January 22, 2024, at 17:00 (UTC+8)
✍️ Particulars: https://t.co/HIkUlEkQGO #UMA #UMAprotocol #BTC #eth #eths #Crypto #Web3 #CryptoListing pic.twitter.com/f55nv4J7tC

— HotsCoin (@HotsCoin_ES) January 22, 2024

UMA is a decentralized optimistic oracle. Oracles can validate any declare made on the blockchain. It gives real-world knowledge, enabling sensible contracts and markets that depend on this knowledge to be settled.

UMA Price Outlook As UMA Tries To Reclaim The Vary Excessive At $6.733

The UMA value recorded a brand new excessive on January 19, after a 168% surge to the $6,733 native prime. Within the wake of revenue reserving, the token’s market worth declined. Now merchants try to reclaim the vary excessive, with the $7.000 psychological degree now in sight.

Nevertheless, primarily based on the Relative Power Index (RSI), UMA is already overbought at 73. The momentum indicator is prone to verify the token is ripe for promoting. This will occur as soon as it crosses beneath the 70 degree.

Nonetheless, the correction may as properly be the bulls seeking to refresh their shopping for energy earlier than a robust transfer north. This is as a result of the histogram bars of the Transferring Common Convergence Divergence (MACD) indicator present the bulls keep a dominant presence within the UMA market. They’re flashing inexperienced, with the MACD itself nonetheless transferring above the sign line (orange band) after crossing above it on January 19.

Elevated shopping for stress may see the UMA value reclaim the $6.733 vary excessive, with the potential to clear it and tag the $7.000 psychological degree. Such a transfer would denote a 33% climb above present ranges.

UMA

TradingView: UMA/USDT 1-day chart

Converse Case

However, if profit-taking continues, the UMA value may prolong the autumn, going as little as dropping the help as a result of $5.000 psychological degree. An prolonged fall may ship the altcoin previous the $4.000 psychological degree, with the dire case invalidating the bullish outlook beneath the $2.936 help degree.

Even because the UMA value coils up for its subsequent transfer, eyes are turning to MK as analysts say this new GameFi challenger is perhaps subsequent to blow up. It comes because the token blasted previous the $7.3 million mark in presale collections.