UMA Token Soars 26.98% After Golden Cross and Breakout Above Key Resistance Level

UMAUSDT experienced a significant price surge in the last 24 hours, with the price rising 26.98% to $1.671 on Binance. This sharp increase is attributed to a combination of technical and market factors, including a "golden cross" where the 50-day simple moving average crossed above the 200-day average, a bullish MACD crossover, and strong buying volume following a breakout above the $1.254 resistance level. The relative strength index near 75 indicates heightened buying momentum, while the retest and hold of the 61.8% Fibonacci retracement level further reinforced bullish sentiment. Market data shows UMA trading in a range between $1.28 and $1.39 on various platforms, with trading volumes and market capitalization figures varying by source, and a circulating supply of approximately 88 million tokens. Overall, the recent surge is driven by technical breakouts and increased market participation, with current sentiment remaining positive but cautious due to potential volatility.