Is UMA price going up or down? Here’s my price prediction for March
- UMA is a truly unique DeFi project
- If the price jumps above $30 resistance again, the next price target could be around $33 or even $35
- If the price falls below $20, it would be a firm "sell" signal and possibly a trend reversal sign
UMA price has skyrocketed from $10.8 above $45 since the beginning of February, and the current price stands around $25. UMA was one of the best performers on the cryptocurrency market this year, and despite a current correction, there is no signal of the trend reversal.
Fundamental analysis: UMA is a truly unique DeFi project
UMA is an open-source infrastructure that enables the creation of fast, efficient, and secure synthetic assets on the Ethereum blockchain. UMA token is used as a governance token for the UMA system while it can also fulfill price requests made on this protocol.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
UMA has been moving in an uptrend since the beginning of 2021 year, and the price of this cryptocurrency has exploded in February. UMA price has extended its correction from the recent highs above $45, but as long the price is above $20, there is no risk of the bear market.
UMA enables DeFi developers to build synthetic assets, and according to some analysts, UMA is a truly unique DeFi project with unimaginable potential. Synthetic assets on UMA can be created with priceless contract templates that only require an on-chain price feed in the event of a dispute.
The goal of UMA is to make trading open to anyone without paying a high fee. Thanks to UMA’s trustless nature, all positions are collateralized in advance, and any two people or organizations can trade with each other from anywhere in the world.
Lots of products can be traded on UMA, and the most common include cryptocurrencies, equities, futures, perpetual swaps, insurance products, among others. UMA also has one more interesting feature, the synthetic tokens that are created on this protocol can track the price of anything (the price of the S&P 500, treasury bond prices, currencies, etc.).
My opinion is that this is a very risky cryptocurrency, and if you decide to trade UMA, you should always use a “stop-loss” order.
Technical analysis: UMA remains in a bull market despite a correction
The main trend of this cryptocurrency remains bullish, and for now, there is no indication of the trend reversal. If the price jumps above $30 resistance again, it would be a signal to trade UMA, and the next price target could be around $33 or even $35.
On the other side, if the price falls below $20, it would be a firm “sell” signal and possibly a trend reversal sign.
UMA enables DeFi developers to build synthetic assets; it connects buyers and sellers from anywhere in the world, and thanks to its smart contracts, all positions are pre-funded so that neither party can back out of the deal. UMA price has skyrocketed from $10.8 above $45 since the beginning of February, and the current price stands around $25. Despite a current correction, there is no signal of the trend reversal, and if the price jumps above $30 resistance again, the next price target could be around $33 or even $35.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: