TrueUSD (TUSD) Trades in Bearish Mode Below $1

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TrueUSD is a US Dollar pegged stable coin and ranked amongst the top 50 cryptos of the market, holding a price movement around $1 with few intermittent candlewicks rise.

TrueUSD is a provision of the TrustToken Platform, which has its partnerships with registered fiduciaries and banks that hold the funds which back the TUSD tokens. It was during the major market crash in March when it marked an All-Time Low around $0.91 while currently lies below $1.0 at $0.999 with a completely flat momentum.

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TrueUSD Price Analysis

TrueUSD (TUSD) Price News
TUSD/USD Chart By TradingView

TrueUSD appears completely flat on the 24-hour chart with no support from 50-day and 200-day daily MA as the stable coin trades below $1 against the greenback. The Bollinger Bands laid are seen squeezed on the daily chart, which points towards a possible candlewick breakout in the near-term. However, it was just before the major breakout in March that the stable coin had marked a high around $1.08 with a bullish crossover.

The technicals are reflecting a complete negative sentiment due to no steady gush of momentum in the intraday, which can take TUSD price to trade above $1.0. The MACD of the chart draws a slight bearish divergence with a comparatively more volatile movement than a stable coin should have. In this regard, the RSI is at 48.33, with no extremities hit on the daily chart.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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