Universal Market Access (UMA) is in a Volatility Storm

Price movement in the UMA/USD market has been extremely volatile. Yet price action has moved up by a more significant margin of 3.66% today. Despite the unstable characteristics of this market, price trading indicators are pointing to a possible further price increase in this market.

UMA Analysis Data
UMA Value Now: $2.26
Universal Market Access Market Cap: $139,891,781
Universal Market Access Moving Supply: 71,149,189
UMA Total Supply: 113,483,544
Universal Market Access CoinMarketCap Ranking: 181

Major Price Levels:
Top: $2.26, $2.56, and $2.86
Base: $2.06, $1.86, and $1.66

UMA Price Activity Rebounds Upwards from Near the $1.86 Price Level

On the daily market, the UMA price has been extremely choppy. However, this market is still on an upward trajectory. In the ongoing session, there was a volatile upside rebound, which took the price beyond the $2.00 mark to clinch the $2.26 price level. Also, the Relative Strength Index (RSI) indicator has shown an upside crossover. However, the lines of this indicator seem too sensitive as they respond to the volatility in the market. Likewise, the Moving Average Convergence and Divergence (MACD) have also displayed an instantaneous crossover. The lines of this indicator can be seen converging just below the equilibrium level. All signs here still support the idea that price action may rise further despite its volatile nature.

 

 

Universal Market Access Price Movement Remains Upside Biased

On the 4-hour market, price action continues to show that it possesses upside potential. It could be perceived that price action from over five trading sessions ago continues to remain bullish. The last price candlestick has projected UMA’s price further upwards from the previous one. In addition, the MACD lines seem more steeply oriented in the upside direction, while its bars are growing green very rapidly. Also, the RSI curves have risen very sharply into the overbought zone of the indicator. Therefore, price action in this market may still head towards the $2.50 mark.

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