📉 $UTK (Utrust) — Testing Structural Support After Sell-Off
$UTK is navigating a heavy corrective phase on the 4H chart, currently trading at $0.00648, down 10.25%. The recent price action shows a major capitulation, dropping from the $0.0100 range to a local bottom at $0.00420.
Since then, the price has stabilized into a sideways consolidation pattern, struggling to reclaim the $0.0070 psychological level. Trading volume is 54.05M UTK (~$350k USDT) — thin liquidity compared to the initial sell-off.
💹 Trade Setup — LONG
Entry Zone: $0.0058 – $0.0062
Bullish Above: $0.0074
Stop Loss: $0.0054
🎯 Take Profit Targets:
TP1 → $0.0081
TP2 → $0.0092
TP3 → $0.0103
⚡ Action: Price is forming a tight range between $0.00582 – $0.00735. A bullish reversal will be confirmed once $UTK breaks out of this accumulation zone with strong volume, potentially retesting $0.0090.