Should You Buy TrueFi (TRU) Friday?

Friday, June 02, 2023 05:35 PM | InvestorsObserver Analysts

InvestorsObserver gives TrueFi a weak short-term technical score of 25 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. TRU has currently traded better than 25% of tokens based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving TrueFi a 25 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on TrueFi!

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Trading Analysis

TrueFi is $0.005175 (13.17%) higher than its 30-day low price of $0.039305393 while also -$0.018276 (-29.12%) lower than its high of $0.06275683 from the past month of trading. Meanwhile, TRU's current price of $0.044480590 is under its average price of $0.048171688 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of TrueFi suggest that traders are currently bearish on the token. TRU has a average market cap compared to the majority of tokens with a total market value of $47,070,107.53. The market valuation for TrueFi is relatively average due to the largest 100 cryptos having a market cap above $1 billion and TRU sits underneath that mark but remains above $100 million in market capilization. TrueFi's average volume is average as $74,726,252.59 worth of the token is typically traded over a 24 hour period. The volume for TRU is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the past 24 hours TRU's volume is below its average with $11,036,679.90 exchanged. TrueFi's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

TrueFi's price movement over the past month has led to a a weak short-term technical score due to recent trading giving more bearish signals for traders on the token's short-term movement. Click Here to get the full Report on TrueFi (TRU).