UMA Price Prediction: UMA Soars 17% As Analysts Say This New GameFi Challenger Will Explode.

adminJanuary 22, 2024

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UMA prices surged 17% during Sunday’s trading session and were up 7% on the final day, trading at $5.75 as of 2:30 a.m. ET.

The surge put UMA on the list of top gainers for the week.

🔥 How did it go? #Cryptocurrency How did the market perform last week? What cryptocurrency has captured the hearts of investors and become a shining star? The thrilling weekly TOP Gainers are now revealed at https://t.co/x3toxzqASH! #XT
📅 January 15 – January 21, 2024
🚀 #one/USDT +231%
🚀 #for/USDT +90%
🚀… pic.twitter.com/chqA1GB3Lg
— XT.com Exchange (@XTexchange) January 22, 2024

Meanwhile, there is talk of listing UMA tokens on Hotscoin. The hype around this milestone is keeping UMA price above the psychological level of $5,000.

🚀 @UMAprotocol $A(uma) will be listed soon. #HotCoin
🔥 Pair: UMA/USDT
💼 Network: ERC20
⏰ Trading date: 17:00, January 22, 2024 (UTC+8)
✍️ Details: https://t.co/HIkUlEkQGO#one #UMAprotocol #BTC #eth #eths #Cryptocurrency #web3 #Cryptocurrency list pic.twitter.com/f55nv4J7tC
— HotsCoin (@HotsCoin_ES) January 22, 2024

UMA is a decentralized optimistic oracle. Oracles can verify any assertion made on the blockchain. By providing real data, we enable smart contracts and markets that rely on this data to take root.

UMA Price Outlook As UMA Attempts To Reclaim High Price Of $6.733

UMA prices hit a high on January 19 after surging 168% to a local high of $6,733. Profit booking caused the market value of the token to decline. Now, traders are trying to reclaim the top range, with the psychological level touching $7,000.

However, based on the Relative Strength Index (RSI), UMA is already overbought at 73. Momentum indicators will likely confirm that the token is ripe for selling. This happens once you go below level 70.

Nonetheless, the bulls may be looking to revive their buying power before the market moves strongly north. This is because the histogram bars of the Moving Average Convergence Divergence (MACD) indicator show that bulls remain dominant in the UMA market. It’s blinking green and MACD itself is still moving above the signal line (orange band) after crossing it on January 19th.

Increasing buying pressure is likely to lead to UMA price regaining the highs of the $6.733 range, liquidating it and tagging the $7.000 psychological level. This move represents a 33% increase from current levels.

one one

TradingView: UMA/USDT 1-day chart

converse case

On the other hand, if profit-taking continues, the UMA price could extend its decline to the point where it loses support at the psychological level of $5,000. A prolonged decline could push the altcoin above the psychological $4,000 level and, in a severe case, could invalidate the bullish outlook below the $2,936 support level.

Even with UMA price rising on its next move, eyes are on MK as analysts say this new GameFi challenger is poised to explode. This comes as the token surpassed $7.3 million in pre-sale collections.