The crypto market witnessed unusual movements today, led by the currency TRU (TrueFi), which experienced a crazy rise of over 120% in just a few hours. This skyrocketing surge has placed it at the top of the most profitable currencies list, attracting the attention of both whales and day traders alike.
Why is this surge happening now?
The strong momentum of the currency $TRU returns to its pivotal role in the decentralized finance (DeFi) sector. TrueFi offers solutions for unsecured loans, a sector that has begun to regain the confidence of major investors. The massive liquidity that entered the currency today indicates that there is positive news or partnerships on the horizon, leading to a break of historical resistance levels with ease.
Technical outlook:
Technically, the currency is currently in a "buying saturation" zone, which calls for caution. However, if $TRU manages to maintain its stability above the new support areas, we may see a second wave targeting further levels. Our advice to traders: do not chase long green candles without a plan, and wait for appropriate entry points during corrections.