Utrust (UTK) was created to address the issues that have limited the use of cryptocurrency as a payment method, primarily the underdeveloped transactional security of payment systems and the relatively expensive fees.

The platform’s major purpose is to create a system that allows merchants to access a broad audience of crypto holders by enabling fast and smooth crypto transactions at lower fees.

Price Movement – UTRUST (UTK)

UTK is now trading at $0.4313, up over 17.37% in the previous 24 hours, during the writing of this article.

Within this time frame, the lowest value was near $0.3431 and the highest was around $0.4545. According to the coin market cap that provided the recent data, the coin is at 197th place and is on many traders’ watchlists. It is currently one of the top gainers among the top 200 coins.

UTK approached its new All-Time High around the price of $1.06 during the month of May 2021. It was a quick upward surge, but the price has slowly retraced back to a lower level. Today’s trading volume, on the other hand, has risen by over 361 percent.

The top exchanges for trading UTK are currently Binance, Huobi, Kucoin.

Technical Analysis – UTRUST (UTK)

Taking about the UTKtechnical, starting from the daily time frame, the price is more likely in a consolidation phase and is doing extreme huge rejections to either side, after an interval of time. Right now the majority of the wicks are to the upside, which on a lower time are respecting a descending trend line. Now as being liquidity above the trendline, it’s quite possible for price to stop hunting that and then continue down as it’s doing.

Moving down to the 4H Time Frame, the price recently reacted to an Order block and had rallied up. Now, this has made a double top inducing seller, so it’s likely for the price to stop hunting the stop losses present above them. An ideal entry would be a little below as marked, as the price is somewhat in a premium array and it’s not preferable to buy from the position where it is right now.

Price Prediction – UTRUST  (UTK)

Walletinvestor thinks that UTK is a good investment. According to them, the one-year projection puts the coin at two times the current price. In one year, the price is expected to reach a value of $0.6074. But the five-year projection puts UTK at a value of $1.607.