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TUT crypto experienced a significant rally today, surging as much as 235% after securing a listing on the Binance exchange through community votes.

Impressive Weekly Gains

TUT rose from $0.0167 to an intraday high of $0.0564 before retreating to $0.0396 by Friday afternoon in Asia. This rally extended its weekly gains to a remarkable 2,600%, making it one of the top-performing altcoins during this period.

Increased Trading Activity

The surge was supported by heightened trading activity, with on-chain data showing a 600% increase in daily volume, which surpassed $189 million. TUT’s market capitalization reached $38.5 million. Derivatives trading also saw a spike, with open interest for TUT futures jumping 400% to $73.59 million.

Binance Listing Sparks Momentum

Today’s significant gains were largely fueled by community excitement after TUT secured its listing on Binance. It was selected in the first round of Binance’s “Vote to List” campaign, alongside other memecoins such as Mubarak (MUBARAK), CZ’s Dog (BROCCOLI714), and Banana For Scale (BANANAS31).

The listing allows trading against USDT and USDC pairs, with withdrawals scheduled to open on March 28 at 21:00 UTC. A seed tag has been applied to these tokens.

Mixed Sentiment Among Traders

Traders remain divided on TUT’s future price action. Some anticipate a potential sell-off, which is common following a major exchange listing, as the hype often gets priced in before the token starts trading.

Historically, after being listed on exchanges like KuCoin, Gate.io, and Bitget on March 20, TUT rallied by over 330% to a record high of $0.057. However, the rally was short-lived, as the token lost nearly half its value within 24 hours due to profit-taking by early buyers.

Technical Analysis Indicates Potential Upside

Not all traders are bearish, though. Technical analysts suggest that TUT may maintain its bullish structure. According to recent chart analyses, the token broke out of a consolidation pattern and formed a potential double-bottom reversal. Key support is identified at $0.03, with upside targets ranging between $0.06 and $0.065.

“The Supertrend indicator recently flipped green, signaling that bullish momentum may still persist,” noted a technical analyst.

Price Movement Insights

On the TUT/USDT 4-hour chart, the price formed a sharp upward movement, often referred to as a “God candle,” followed by a few red candles. This pattern suggests potential selling pressure after the initial pump. However, indicators like the Supertrend and MACD lines remain strong, hinting at sustained bullish momentum.

The Chaikin Money Flow (CMF) also shows positive readings, indicating that fresh capital is flowing into TUT. Meanwhile, the Relative Strength Index (RSI) has cooled to around 60 after hitting overbought levels, suggesting that selling pressure may be easing, allowing bulls to regain control.

Key Resistance Levels

If momentum continues, TUT could target the $0.06 resistance level, which previously proved challenging to break on March 20. However, traders should remain cautious, as derivative market data indicates a negative funding rate, suggesting that many are betting on a price correction.

Disclosure: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any financial decisions.

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