📉 $UTK
(Utrust) — Testing structural support after strong sales
$UTK is trading in a strong corrective phase on the 4-hour timeframe, at $0.00648 down 10.25%. Recent price action showed a major capitulation event that led to the price dropping from the $0.0100 range to $0.00420 as a local bottom.
Since then, the price has settled into a sideways accumulation pattern, struggling to regain the psychological level at $0.0070. Trading volume is 54.05M UTK (~$350k USDT) — weak liquidity compared to previous selling volume.
💹 Trade setup — Buy (LONG)
Entry area: $0.0058 – $0.0062
Bullish above: $0.0074
Stop loss: $0.0054
🎯 Price targets:
TP1 → $0.0081
TP2 → $0.0092
TP3 → $0.0103
⚡ Action: The price is forming a narrow range between $0.00582 – $0.00735. A bullish reversal will be confirmed once $UTK breaks out of this accumulation area with strong trading volume, with the possibility of testing $0.0090.