Here’s the technical breakdown for $USUAL USUAL/USDT across the 15-minute, 1-hour, and 4-hour charts.
15-Minute Chart:
1. Price Action: The price has been trending downward, reaching a low of 1.1160 before a minor recovery.
2. Indicators:
Bollinger Bands: Price is hugging the lower band, signaling bearish momentum and possible oversold conditions.
RSI: At 39, it's nearing oversold but not quite there. Could hint at a minor bounce.
MACD: Bearish with red bars; momentum is still downward but showing slight weakening.
3. Volume: High selling volume indicates strong bearish pressure.
Verdict: Likely a short-term pullback or consolidation. I'd wait for clearer signs of reversal before jumping in.
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1-Hour Chart:
1. Price Action: Still bearish, breaking below significant levels. The last candle shows a small recovery attempt.
2. Indicators:
Bollinger Bands: Price broke below the lower band but is attempting to re-enter the range. Suggests oversold conditions.
RSI: At 25, firmly in oversold territory, indicating the potential for a short-term bounce.
MACD: Strongly bearish, but the histogram shows decreasing momentum—early signs of potential reversal.
3. Volume: High sell-off volume persists, but buying pressure may start building.
Verdict: Momentum is slowing, but it’s not the time to buy yet. A break above the 1.20 level with confirmation would signal a recovery.
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4-Hour Chart:
1. Price Action: The broader trend remains bearish, with a clear downtrend from 1.65 to the current levels.
2. Indicators:
Bollinger Bands: Price near the lower band, consistent with the oversold scenario.
RSI: At 34, approaching oversold but not as extreme as the 1-hour chart. Suggests room for further downside.
MACD: Still bearish, with no clear divergence signaling a reversal yet.
3. Volume: Steady selling pressure dominates.
Verdict: The broader trend is still bearish. Until we see a higher high or support around 1.10, I'd stay cautious.
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Overall Strategy:
The 15-minute and 1-hour charts suggest oversold conditions, but the 4-hour chart implies the broader trend is still down.
If you’re short-term trading, consider scalping off support around 1.11 but with tight stops.
For swing trading, wait for a confirmed reversal or a breakout above resistance levels like 1.20.
Trade smart and manage your risk!