🚨🚨 Detailed Analysis of $USUAL Chart. BUY or SELL?? (BUY for Short and Long term)
The 4-hour timeframe reveals a well-defined uptrend for USUAL/USDT, with Fibonacci retracement levels providing clear support and resistance zones.
1. Key Observations:
Current Price: $1.3839, close to the 0.618 Fibonacci level ($1.3800), which acts as strong support.
Moving Averages:
MA(7): $1.3281 (short-term trend is bullish as the price is above this level).
MA(25): $1.2002 (medium-term trend remains intact).
MA(99): $0.9238 (long-term support remains strong).
Price recently bounced from $1.2889, showing buying interest near the 0.5 Fibonacci level.
Resistance: $1.4976 (0.786 Fibonacci level) and $1.6465 (swing high).
2. Volume Analysis:
High trading volumes suggest active market participation.
Price strength near the current level hints at bullish sentiment.
Short-Term Suggestion:
Position: Buy.
The bounce above $1.38, coupled with positive momentum, indicates potential for a move toward $1.49 (0.786 Fibonacci).
Stop-Loss: $1.29 (below 0.5 Fibonacci for risk management).
Take-Profit: $1.49 and $1.64.
Long-Term Suggestion:
Position: Hold or Accumulate.
The overall uptrend remains intact. Long-term support is strong above $0.92 (MA(99)).
Gradual accumulation is recommended for long-term targets of $1.70+.
Risks to Monitor:
A breakdown below $1.28 could invalidate the bullish setup, signaling a potential retest of lower support levels.
Monitor Bitcoin’s price action and overall market conditions, as they heavily influence altcoin performance.
Always use proper risk management strategies, and consider market conditions before making any decision. This post is for informational purposes and does not constitute financial advice.