Home Utrust Technical Analysis: UTK/USD jumps 20% after the announcement of Travala integrating the digital asset as a payment solution
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Utrust Technical Analysis: UTK/USD jumps 20% after the announcement of Travala integrating the digital asset as a payment solution

FX Street
Updated:
  • Utrust will add AVA as a payment method and over 4 million online stores will be able to accept it via Utrust. 
  • UTK/USD is close to hitting a new two-year high above $0.10. 

Utrust is clearly in a massive bull rally holding a strong daily uptrend. UTK/USD was in a period of consolidation, however, the recent announcement about Travala using Utrust to be accepted in over 4 million stores bumped the value of UTK.

UTK/USD daily chart

UTKUSD

The most important resistance level is located at $0.097, which is the high established on July 24. If UTK can climb above this level, $0.1 will be the next psychological resistance point. Back in June 2019, UTK hit $0.0994 before getting heavily rejected and dropping below $0.01. 

So far, bulls have been able to defend the daily 26-EMA, currently established at $0.069. UTK price is now at $0.0941 and the RSI is on the verge of being overbought.

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