💥Market Analysis and Key Observations for USUAL/USDT💥
1. Current Price and Performance:
• Current Price: $1.0635
• Price Change (24H): +24.09%
• Price Range:
• 24H High: $1.3073
• 24H Low: $0.6450
The asset has experienced a substantial upward movement, gaining over 24% within the last 24 hours, which suggests strong bullish momentum.
2. Volume Analysis:
• 24H Volume:
• USUAL: 569.67M
• USDT: 525.30M
• This high volume indicates strong market participation, which is fueling the price increase.
3. Technical Analysis:
• Moving Averages (MA):
• MA(5): 646,942.2
• MA(10): 659,759.2
• The short-term moving averages reflect consistent trading activity and upward momentum.
• Volume Trend:
• Recent spikes in trading volume support the ongoing uptrend.
• Resistance and Support:
• Key Resistance: Around $1.2073 (24H high).
• Support Level: Around $1.01.
• Trend Line:
• The price is trending near the 1.05 range, showing slight consolidation after a strong push.
4. Order Book Insights:
• Bid-Ask Spread:
• Bids: 1.0444 (Buyers)
• Asks: 1.0449 - 1.0450 (Sellers)
• Buyer percentage: 70.23%
• Seller percentage: 29.77%
• Market sentiment appears bullish as buyers dominate the market.
Prediction and Outlook:
• Short-Term: The strong upward momentum and volume suggest the price may attempt to retest the $1.20 resistance level. A breakout above this level could lead to further gains.
• Medium-Term: If trading volumes remain high and bullish sentiment continues, the price could target the $1.30 - $1.50 zone. However, failure to break resistance may result in a retracement back to support levels near $1.01.
• Risk Factor: Monitor for profit-taking or sharp corrections, as high volatility is common after such rapid gains.
Trading Strategy:
• Buy Zone: Near $1.04 - $1.05 (current level).
• Sell/Take Profit Zone: Near resistance at $1.20.
• Stop-Loss: Place near $1.00 to minimize downside risk.
This analysis reflects strong bullish signals, but traders should stay cautious
