UTKUSDT
[UPDATE UTK] UTRUST is ready for 3$ or 5$! What do you think?With this analysis I applied:
1) ELLIOT WAVES
2) Fibonacci trendline extension
3) Lengthening theory
Why am I sure UTK is going to go up (together with other strong tokens)? For the following 4 reasons:
1) Stock RSI: Bollinger band indicator on the weekly flashed green.
2) Support/Resistance: UTK touched the current support multiple times during the past 3-4 years (never broken). UTK did not break the all time high of the previous cycle on the first attempt (still room for growth).
3) TRACK RECORDS: UTK has dropped 80% in this wave and in the past ones.
4) FUNDAMENTALS: Business is growing day by day. Coinbase listing will certainly occur when bull run resumes.
My prediction price is between 3$ and 5$ for mid 2022.
UTK / UTRUST overview#UTK #UTRUST is a digital payment platform / merchant / payment solution.
The solution is cheap, fast, and safe. The project is comparable to Paypal (Current price 291,51$ and with the 342.551B market cap).
The Utrust price now is 0.23$ with the 100 mln market cap. The price peak is around 1.065$. Price has made an 80% correction. The lowest price point is around 0.08$.
The weekly price zone is 0.18$-0.25$ and it looks like has been oversold. If the price will close above 0.25$ it could identify a reverse.
However, the project is promising.
Utrust offering fast, low-cost transactions and instant crypto-fiat settlements for merchants.
Utrust using most major cryptocurrencies and ERC-20 tokens.
When accepting payment in cryptocurrency with Utrust, it can be converted immediately into GBP, EUR, or USD. Merchants can instantly convert crypto payments into fiat or keep crypto assets on their balance sheet.
Utrust helps to prevent fraud and charge-backs.
UTK has a maximum total supply of 500 million. At the time of writing, the circulating supply of UTK is 450,000,000, with a market cap of 100mln. The remaining 5% of UTK tokens are reserved.
When making payments using the UTK token, users pay zero exchange rate fees. This provides further utility and promotes the use of the UTK token.
it is not a financial advice
UTK USDT Now it's time for alt party!!!
As you can see the trend is upward and I'm looking for an opportunity to enter a long position.
The down trend line (X) has been broken with good volume and the pullback to the line is completed.
I use the fib extension to determine the targets. I think it's a good time for investing in UTK/USD for at least 28.5% of profit.
Caution: due to the uncertain behavior of the Bitcoin this signal is risky and all of the risks of trading this idea is on your own.