I want you to remember this coin. Yesterday it was on the gainers list with 20 percent. Today it is back with 55 percent. That means it has momentum.
$TUT
But here is the important part. Look at the price. It went from 0.031 to 0.048 in two days. That is a 50 percent move in 48 hours.
Now here is my question. Is this a sustainable trend or a quick pump?
The answer depends on volume and structure. If the volume is high and the price holds above 0.045, we could see a continuation toward 0.055 or 0.060.
If it drops below 0.044, the move might be over.
My strategy? I would wait for a pullback to 0.045. Enter with a stop loss at 0.042. Target 0.052 and 0.055.
This is a momentum play, but remember class, momentum can reverse just as fast as it starts.
$TUT
But here is the important part. Look at the price. It went from 0.031 to 0.048 in two days. That is a 50 percent move in 48 hours.
Now here is my question. Is this a sustainable trend or a quick pump?
The answer depends on volume and structure. If the volume is high and the price holds above 0.045, we could see a continuation toward 0.055 or 0.060.
If it drops below 0.044, the move might be over.
My strategy? I would wait for a pullback to 0.045. Enter with a stop loss at 0.042. Target 0.052 and 0.055.
This is a momentum play, but remember class, momentum can reverse just as fast as it starts.