TUT has recently surged from the 0.0585 support zone, breaking through mid-range resistance at 0.0650 and testing the upper resistance near 0.0755. Price has shown strong bullish momentum, but the sharp rejection wick at the top suggests sellers are defending the 0.0755 barrier. This aligns with the historical supply zone seen in late July.
As long as price remains capped below 0.0755, there is risk of a downside retracement back into the 0.0650 zone. If buyers reclaim and sustain above 0.0755, however, momentum could extend toward new highs.
📊 Key Levels
Support 1: 0.0650 (mid-level support)
Support 2: 0.0585 (major base support)
Resistance: 0.0755 (major cap zone)
Trading Scenarios
📉 Bearish Setup
Sell trigger: Rejection at 0.0755
Sell zone: 0.0735 – 0.0755
Target: 0.0650 support
Invalidation: Break and close above 0.0765
📈 Bullish Setup
Buy trigger: Break and hold above 0.0755
Buy zone: Retest of 0.0750–0.0760 as support
Target: 0.0820–0.0850 extension
Invalidation: Drop back below 0.0730
Summary
Momentum is bullish short-term, but 0.0755 is a key decision level.
A rejection favors a move back to 0.0650.
A breakout above 0.0755 opens path to higher highs.
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As long as price remains capped below 0.0755, there is risk of a downside retracement back into the 0.0650 zone. If buyers reclaim and sustain above 0.0755, however, momentum could extend toward new highs.
📊 Key Levels
Support 1: 0.0650 (mid-level support)
Support 2: 0.0585 (major base support)
Resistance: 0.0755 (major cap zone)
Trading Scenarios
📉 Bearish Setup
Sell trigger: Rejection at 0.0755
Sell zone: 0.0735 – 0.0755
Target: 0.0650 support
Invalidation: Break and close above 0.0765
📈 Bullish Setup
Buy trigger: Break and hold above 0.0755
Buy zone: Retest of 0.0750–0.0760 as support
Target: 0.0820–0.0850 extension
Invalidation: Drop back below 0.0730
Summary
Momentum is bullish short-term, but 0.0755 is a key decision level.
A rejection favors a move back to 0.0650.
A breakout above 0.0755 opens path to higher highs.
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Share your Thoughts if you have any?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.