Bittime - TrueFi (TRU) token priceshowed positive signals and managed to surpass the 100-day exponential moving average (EMA) this week. A significant increase of more than 19% occurred, and TRU managed to break the key EMA level in one go.
Recently, TRU also managed to cross the trend line at $0.1000 and its momentum is getting stronger. If buyers manage to break the resistance level at $0.1360, which is marked by a double bottom formation, a sharp price spike could occur.
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Currently, TRU is trading at $0.1316 with an intraday gain of 2.02%, indicating a neutral move. TRU has a monthly return ratio of 2.28% and an annual return ratio of 158.12%.
Also read: TRI: TrueFi's Newly Released RWA Token
TRU's current price is equivalent to 0.00000189 Bitcoin (BTC) and its market capitalization stands at $149.3 Million. Analysts are neutral but expect TRU price to gain momentum soon and potentially surpass $0.1400.
Technical Indicators Show Breakout Potential
Despite the market correction, the TrueFi token did not break the key support zone at $0.0800 and managed to bounce back from the 200-day EMA level. There is potential for TRU to return to the upward trajectory at $0.1600 in the coming sessions. Buyers appear to have become more active this week, marked by increased buying pressure.
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Popular analyst @WorldofCharts1 observed TRU moving in line with his estimates and has risen 15% since the buy signal was issued.
Source: Twitter/X
A price close above $0.14000 will further strengthen the upside momentum and put pressure on the sellers. An increase in trading volume is also an indication of a potential breakout. Intraday trading volume rose over 23.78% to $13.70 Million.
Also read: 5 Best Coins Based on Highest Profits in the Crypto Market in the Last 7 Days
Rising Popularity
This week, there was a significant increase in social dominance data, which shows that investor discussions on media platforms about TRU have increased drastically. The social dominance value rose more than 54% intraday and reached 0.091%, indicating a positive outlook on TRU.
Meanwhile, development activity data looks flat and is approaching the 0.024 level, indicating a neutral outlook.
Futures Data Shows Decreasing Open Interest
Amid rising prices, futures data suggests concerns among sellers, resulting in increased short-covering activity. Open Interest data fell by more than 6.26% to $13.89 Million in the last 24 hours, further strengthening the potential price increase.
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Conclusion
The TrueFi (TRU) token price looks bullish and has the potential to experience a sharp breakout in the next few sessions. Technical indicators show positive signals and point to significant bullish movement.
How to Buy TrueFi (TRU) on Bittime
You can buy and sell TrueFi (TRU) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
TrueFi (TRU) is available on Bittime with the market pair TRU/IDR. To be able to buy TRU IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy TrueFi (TRU) on Bittime.
Monitor price chart movements of TrueFi (TRU), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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