• Increased$UTK by 34% to $0.03900, with the price rising from $0.029 recently• The trading volume reached $34.6 million with a trading volume to market cap ratio of 1.26, indicating strong liquidity
• The market cap now stands at $27.5 million, reflecting renewed interest from investors in this token
Technical indicators and market sentiment
• Confirmation of strong buying pressure through the MACD indicator which showed a shift in positive momentum
• The RSI indicator in the mid-fifties indicates balanced conditions with no signs of overbought, allowing for further upside
• Market sentiment in the community is highly positive (98.55%), creating a positive feedback loop for price movement
• Historical context: UTK previously peaked at $1.49 in 2021 from a low of $0.0054 (in 2020)
Trading strategy
• Key resistance levels: $0.03950 and $0.04200 - breaking these will confirm stronger bullish continuation
• Critical support at $0.03450 - watch it closely as a break could lead to profit-taking
• High volume indicates the need to monitor liquidity changes closely as sudden pullbacks are still possible
• Consider diversifying positions near support areas while maintaining strict risk management standards
Community insights
• Traders point to "upward momentum" and "strong momentum" in recent discussions
• There is consensus on the "renewed strength" of UTK after regaining vital technical levels
• The high trading volume to market cap ratio indicates active participation from both retail investors and larger traders
