Rally

Momentum

Coin

<ul class="news-points"> 
 <li>UMA’s value rocketed 161.5% in a week, hitting a 20-month high.</li> 
 <li>A bearish phase engulfs UMA as it faces resistance, dipping 10 % after a bullish surge.</li> 
 <li>Technical indicators signal potential UMA price decline if bearish strength grows.</li> 
</ul> 
The Universal Market Access Protocol’s native token, UMA, has <a href="https://coinedition.com/crypto-prices-today-btc-eth-uma-hots-24-hour-success/">witnessed an extraordinary surge</a>, catapulting its value by 161.5% in just a week. This upswing pushed its price to a 20-month high, reaching a peak at $6.73 before facing stiff resistance. This surge was a shift from a long period of stagnation to a bullish trend, signaling a <a href="https://coinedition.com/uma-price-prediction/">potential era of prolonged growth for UMA</a>.&nbsp; 
However, in the last 24 hours, bears have had the upper hand, dipping the price from an intra-day high of $6.22 to a low of $5.19, where support was established. UMA was trading at $5.23 at press time, a 10.15% dip from the intra-day high. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/HgSVE_caU6kgcdzNYeCHq5rIkQt1zuZqejzDn-KdZq3JLgg1aD3onqFgxK_tv2RmViexAmK9e_FIp_EptMi4s4JQ1LIhACGaOul41Bf9O-1i1XQvOYxAJjGUU7DDwIXU6vi0csFC1xdeHowY" alt="">
 <figcaption class="wp-element-caption">
 UMA/USD 24-hour price chart (source: <a href="https://coinstats.app/coins/uma/" target="_blank" rel="nofollow">CoinStats</a>)
 </figcaption>
</figure> 
The last week’s rally in UMA’s value can be traced back to several pivotal developments. Notably, the anticipated launch of ‘Oval,’ a revolutionary crypto solution aiming to reclaim over $100 million lost annually to Maximal Extractable Value (MEV), has been a k…
The post <a href="https://coinedition.com/is-umas-bullish-rally-over-indicators-signal-increased-bearish-momentum/">Is UMA’s Bullish Rally Over? Indicators Signal Increased Bearish Momentum</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Is UMA’s Bullish Rally Over? Indicators Signal Increased Bearish Momentum

Coin Edition

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