InstaForex

July 9, 2021

UMA (UMA) Has Produced Over 400% Surge In 2021!

 Universal Market Access (UMA), a protocol for the creation of synthetic assets based on the Ethereum blockchain (ETH), allows users to design and create their own execution of financial contracts earned by economic incentives and run them on the Ethereum blockchain.


Launched in December 2018 by Hart Lambur and Allison Lu.


The uniqueness of UMA is the idea of ​​developing a protocol for the creation of synthetic assets and financial contracts on the blockchain, it seeks to democratize and decentralize the financial derivatives market.


In addition, UMA allows anyone to build decentralized financial products.


Next, examine the UMA/USDT price movement chart.


In the 2021 market, UMA was able to show a market record by producing a jump of over 400% to record the latest all -time high (ATH) at the price level of $ 43.37 on 4 February.



From a technical point of view, the price movement is now moving weakly down to re -test the RBS zone (resistance become support) around $ 9.1 which is the concern of investors.


For the next expectation, the price movement will first test the level to either make a rebound or continue the decline if it still maintains a weak price movement.


The next focus will likely be heading to the RBS zone around $ 8.6 to test first before continuing lower.


However, if the UMA price shows an uptrend again, the price movement will retest the SBR zone (support become resistance) around $ 9.8 before making a higher rise.


At the time of writing, UMA is trading at $ 9.2 down over 3% in the last 24 hours.