$USUAL /USDT is trading at $1.2367, reflecting a +8.65% increase in the past 24 hours. The chart shows a significant upward trend with notable gains over 30 days (+341.13%). The current price movement highlights strong bullish momentum but also signals potential for profit-taking or corrections.
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Key Observations:
1. Resistance Levels:
$1.3000 (Immediate Resistance): A key level where selling pressure could emerge.
$1.4000 (Major Resistance): A breakout above this could indicate further bullish momentum.
2. Support Levels:
$1.2000 (Immediate Support): A crucial level for short-term stability.
$1.1000 (Major Support): Loss of this level could trigger a deeper correction.
3. Trend Analysis:
Price remains above significant moving averages, affirming bullish dominance.
Recent higher highs and higher lows indicate continuation of the uptrend.
4. Indicators:
RSI: Near overbought levels, suggesting potential for short-term retracement.
Volume: Increased trading activity supports current price movement.
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Trade Recommendations
Long Trade Setup (Bullish Scenario):
Entry: Above $1.2500 (confirmation of bullish momentum).
Target 1: $1.3000
Target 2: $1.4000
Stop Loss: $1.2000
Short Trade Setup (Bearish Scenario):
Entry: Below $1.2000 (breakdown confirmation).
Target 1: $1.1000
Target 2: $1.0000
Stop Loss: $1.2500
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Predictions
1. Bullish Case:
Sustained momentum could push the price towards $1.3000, with a potential rally to $1.4000 if resistance is breached.
2. Bearish Case:
A breakdown below $1.2000 could trigger a correction to $1.1000 or lower, depending on selling pressure.
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Conclusion
USUAL/USDT displays strong bullish momentum, making it an attractive option for breakout traders. However, traders should be cautious of potential retracements, especially given overbought conditions. Both long and short opportunities exist depending on key price action levels.
