$TUT / USDT – Consolidating with Potential Upside? 🤔
$TUT is currently trading at $0.02752, showing a modest gain of +2.99%. The 4-hour chart shows a period of consolidation after a recent spike. The price is hovering around the $0.0275 level.
Potential Scenario:
Observation: The recent price action shows a sharp upward move followed by a period of sideways consolidation. This could indicate a potential accumulation phase before another move.
Possible Trade Considerations (Monitor closely):
Entry: Consider potential entries if the price shows signs of breaking out above the consolidation range, perhaps above $0.0280 with increasing volume. Alternatively, look for support to hold around the $0.0270 level for a potential bounce.
Target 1: $0.0285
Target 2: $0.0295
Final Target: $0.0300+ (depending on breakout strength)
Stop Loss: Place a stop-loss below the consolidation range, perhaps around $0.0265, to manage risk.
Key Observation: Watch for a clear breakout from the current consolidation pattern with increasing volume to confirm the next direction.
Remember to perform your own due diligence before making any trading decisions.
