$UTK printing +16.2% on $10M volume in 24 hours, last at 0.00795.
The move puts it just under the EMA50 at 0.00835, and still below the EMA20 at 0.00919. This looks like a relief bounce within a broader downtrend, with the 7-day high of 0.0244 a distant memory.
The desk's read: this rally needs to clear 0.00835 convincingly to even hint at a reversal. Otherwise, it's just a wick looking for exit liquidity.
Are you fading this bounce at the EMA50, or looking for a push higher?
$UTK
The move puts it just under the EMA50 at 0.00835, and still below the EMA20 at 0.00919. This looks like a relief bounce within a broader downtrend, with the 7-day high of 0.0244 a distant memory.
The desk's read: this rally needs to clear 0.00835 convincingly to even hint at a reversal. Otherwise, it's just a wick looking for exit liquidity.
Are you fading this bounce at the EMA50, or looking for a push higher?
$UTK