TUSD Initiates Recovery Despite Bearish Hold

TrueUSD price touched the highest point of the week yesterday at $1.0011
With a bearish outlook, the next support may come by $0.99

TUSD has been through hefty volatility over the last week. On July 24, the currency was trading at $0.99, and after a few hours, it touched $1.0007.

TUSD/USD Chart By TradingView

However, TrueUSD failed to remain at that high for long and started rolling down again. By 12:00 UTC of July 25, the currency touched the bottom at $0.99. The next few days were a little bullish. Just before July 29, the TUSD price was hovering at around $1. After a few swift ups and downs, the value reached the weekly high at $1.0011 yesterday.

TrueUSD currently trades around $0.9995, and it is presently ranked at 54^th position with a market cap of around 196,524,276 USD. As per the MACD indicator, the currency might regain upside momentum shortly. It may test the next resistance at $1. However, investors may have to be cautious of any sudden price swings.

Markus Brown

Markus Brown is a full time news editor at CryptoMoonPress. He has five years of writing experience with well-known publishing companies. Currently, he serves his valuable price analysis articles and manages our writers team for content writing and curation. In his free time, he enjoys football and badminton.