USUAL/USDT Analysis: Key Levels to Watch!
Price Overview:
Current Price: $1.0532
Support Levels: $1.0320, $1.0000
Resistance Levels: $1.1000, $1.1500
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Market Insights:
1. Volume: Increasing, indicating active participation, particularly during the downward movement.
2. Trend Analysis: The 15-minute chart shows a strong bearish momentum, with consistent lower highs and lower lows.
3. RSI: Oversold territory, signaling a possible short-term bounce or consolidation.
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Trading Plan:
1. Bullish Reversal Play:
Entry: Above $1.0700 (confirmation of reversal).
Targets: $1.1000, $1.1500.
Stop Loss: $1.0400.
Reason: A break above $1.0700 could indicate buyers regaining control after the sharp drop.
2. Continuation of Downtrend:
Entry: Below $1.0300 (break of support).
Targets: $1.0000, $0.9500.
Stop Loss: $1.0600.
Reason: Breaking below $1.0300 will confirm further downside as sellers dominate.
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Key Observations:
USUAL/USDT has witnessed a significant decline, reflecting bearish pressure in the short term. However, RSI near oversold and a potential double-bottom formation at $1.0320 suggest a possible bounce. To confirm any upside, price action above $1.0700 is crucial.
What's Next?
Will bulls reclaim the lost ground, or will bears push it further toward $1? Keep an eye on volume and the $1.0700 mark!
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