A full round trip for TUT today, down 26.0% and sitting on the 24-hour low.
That's $92M in volume that just pushed price clean through the EMA20 and EMA50. An RSI of 31 looks tempting for a bounce, but a candle that gives back its entire daily gain on this kind of volume is usually distribution, not just a shakeout.
The desk's read is that this support doesn't hold.
Are you buying this level, or waiting for the 7-day low at 0.0295 to get tested?
$TUT
That's $92M in volume that just pushed price clean through the EMA20 and EMA50. An RSI of 31 looks tempting for a bounce, but a candle that gives back its entire daily gain on this kind of volume is usually distribution, not just a shakeout.
The desk's read is that this support doesn't hold.
Are you buying this level, or waiting for the 7-day low at 0.0295 to get tested?
$TUT
