No Respite for UMA as DeFi Token Plunges Another 8%; What to Watch?

UMA price targets for the coming session. Technical Outlook Ahead If bears remain persistent, then UMA/USDT may likely continue their downtrend inside the Descending Channel while targeting certain levels on its way south.

In the meantime, UMA/USDT would keep testing the lower trendline of the Descending Channel as its support. UMA Fundamentals The latest losses in the UMA market has also followed its association with SushiSwap, a fork of Ethereum-based decentralized exchange (DEX) Uniswap.

Timeline of Sushiswap, Uma, Uniswap