$TUT just woke everyone up. Price had been stuck in a boring range for weeks, grinding between 0.0165 and 0.0175, going nowhere. Then volume showed up. Price ripped straight to 0.0200 before cooling off to 0.01944, a 10.6% day. That breakout candle's volume dwarfs anything from the consolidation phase. Not even close.
Here's what caught my eye. Weeks of sideways chop. Low volume. RSI stuck under 60 the whole time, nobody watching. Classic accumulation signature. Then it just goes.
RSI is sitting at 71.66 now, MA at 64.30. We're overbought. I wouldn't chase the wick up near 0.02, not here. The pullback to 0.01944 looks healthy though, nothing alarming yet. The real tell is whether 0.0175 to 0.0180 holds as support. That old resistance zone needs to flip. If it breaks back below, this move loses credibility fast.
Patience beats speed right now. Let RSI cool off. Watch for a retest of that 0.0180 zone. See if buyers actually defend it before adding size.
Not financial advice, just how I'm reading it. DYOR.
$TUT
#TUT #cryptotrading #TechnicalAnalysis
Here's what caught my eye. Weeks of sideways chop. Low volume. RSI stuck under 60 the whole time, nobody watching. Classic accumulation signature. Then it just goes.
RSI is sitting at 71.66 now, MA at 64.30. We're overbought. I wouldn't chase the wick up near 0.02, not here. The pullback to 0.01944 looks healthy though, nothing alarming yet. The real tell is whether 0.0175 to 0.0180 holds as support. That old resistance zone needs to flip. If it breaks back below, this move loses credibility fast.
Patience beats speed right now. Let RSI cool off. Watch for a retest of that 0.0180 zone. See if buyers actually defend it before adding size.
Not financial advice, just how I'm reading it. DYOR.
$TUT
#TUT #cryptotrading #TechnicalAnalysis