Bitcoin
BTC$49 128.70

-7.55%

Ethereum
ETH$4 120.96

-1.29%

Binance Coin
BNB$562.73

-3.52%

Tether
USDT$1.001430

0.08%

Solana
SOL$198.10

-2.74%

Cardano
ADA$1.39

-8.63%

TrueChain: the Coin That Has Already Recovered


April 2020

While all top cryptocurrencies are only making attempts at recovery after the sudden collapse - but to no avail - there is a coin that lies on the wrong side of the top 100 on Coinmarketcap that had already accomplished this task, and presently tries to establish support in the area from which the downfall of March 12 commenced.

TrueChain's price action from the previous month

A brief overview of TRUE


This currency is named TrueChain (TRUE) - right now, it occupies the 116th spot in global ranks with the market capitalization of $23.2 million, which is typical for the cryptocurrencies of similar stature. But what sets this coin apart from its closest neighbors, namely Crypterium, Aragon, and AION, is an uncharacteristically large average daily trading volume of $44 million, which even goes up to $56 million on certain days. That is probably one of the reasons why the coin has made a truly remarkable recovery after it had gone under all levels of support on March 13, along with the rest of the market.

We'll make an overview of that heroic act shortly, but first, let's have a quick look at TrueChain's fundamentals because, with that kind of performance, it could gain much larger traction in the coming months, especially if it manages to maintain the current price level or even initiate an uptrend.

Built by the Singapore-based blockchain company on the basis of Binance Chain, and launched in January 2018, this system serves as a foundation for the digital infrastructure for dApps. Its uniqueness lies in the use of an innovative consensus algorithm that comes as a hybrid of fPoW and DPoS, as well as a sharding technology. The employment of these solutions allowed the developers to claim that they had resolved the so-called impossible triangle - the combination of issues concerning scalability, consistency, and decentralization.

Recovery achieved - what's next?


TRUE can be labeled as the most successful underdog in the cryptocurrency realm - the coin rarely gets any attention from the leading news outlets and analytics; nevertheless, it has performed a virtually impossible feat, recovering after an ultra-swift 50% price fall in a matter of seven days, thus giving its holders a massive relief, whereas the holders of top coins shouldn't even hope for such a rehabilitation any time soon.

1-day TRUE/USDT chart

Perhaps one of the reasons why TrueCoin has achieved such an amazing feat lies in the fact that nearly 80% of all trading activities involving this coin occurs on a single cryptocurrency exchange platform - OKEx,  which gives ground for the suspicion that even a single whale could potentially influence the market in his favor.

But conspiracy theories aside, TRUE had made a spectacular leap from all-time low at $0.15 to the resistance zone that formed prior to the collapse at $0.39. This move was a part of the formation of a bullish flag on the background of an immensely strong buying volume, unseen in other cryptocurrencies.

Now, TrueChain is at the critical juncture because it has come extremely close to the 200-period EMA, breaching which would signal about the commencement of an uptrend. The ATR oscillator is at 0.0047, hinting at the potential strength of a new move, which should occur within the range of $0.19 - $0.36, but not in a single swing. However, MACD is not overly eager to cross the zero area; therefore, the highest probability with regard to TrueChain is that during the next week, it would consolidate around the 200 EMA.

Author: Alex Paulson for Crypto-Rating.com

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.4% 50 $49 128.70 -7.55% -10.26% $928 110 420 973 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 81.2% 36 $4 120.96 -1.29% 0.92% $488 780 881 496 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 80.8% 32 $562.73 -3.52% -6.79% $93 864 649 605 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 92% 1 $1.001430 0.08% 0.06% $74 263 665 994 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 70% 62 $198.10 -2.74% 3.42% $60 546 003 381 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 64% 72 $1.39 -8.63% -9.93% $46 287 449 057 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $1.000097 -0.05% 0% $40 029 698 519 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 70% 66 $0.836385 -7.82% -11.54% $39 516 931 096 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 69.6% 62 $74.36 25.00% 66.02% $28 825 591 225 LUNA 7 days price change
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11 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 73 $0.176449 -10.40% -13.54% $23 359 356 254 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 64.4% 75 $90.68 -11.80% -18.97% $22 009 485 134 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62.4% 76 $0.000036 -8.88% -7.14% $19 722 014 052 SHIB 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 57.6% 86 $0.600991 -3.69% -20.69% $15 182 834 806 CRO 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 67.6% 62 $1.97 -8.29% 22.24% $13 803 349 402 MATIC 7 days price change

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