🚨 $UTK RETRACES SHARPLY: CRITICAL SUPPORT IN PLAY! 🚨
$UTK is currently trading at $0.11686, pulling back after hitting a recent high of $0.13991. This retracement brings the price closer to key support at $0.11347, where buyers may look to step in. The earlier rally from $0.10121 shows significant strength, but the current dip raises questions about short-term momentum.
The RSI is at 27, signaling oversold conditions, which could lead to a bounce if bulls defend the support level. However, if UTK fails to hold above $0.11347, the next move could test lower zones. Traders are advised to keep a close watch on these levels for confirmation of a reversal or a continuation of the downtrend.
Trade Setup:
Entry Price: $0.11650
Resistance: $0.12765
Support: $0.11347
🔻 Stop Loss: $0.11200
The market remains at a decisive point. A bounce from support could reignite bullish interest, while a breakdown could signal further weakness. Stay cautious and manage your trades wisely.