Technical analysis and bullish outlook for Usual (USUAL)
1. Short-term technical analysis
• Support and resistance:
• Strong support near $0.45, this is the zone where many investors buy in.
• The first resistance level at $0.55; if broken, the possibility of reaching $0.75 is feasible before continuing towards the $2 target.
• Trading volume:
Strong trading volume increase, reflecting growing interest from investors, often a positive sign in a bullish market.
2. Long-term growth outlook
• Institutional capital flow:
Usual has attracted institutions like BlackRock, which could help stabilize the coin's value in the long term and draw traditional investors into the cryptocurrency market【9】.
• DeFi ecosystem:
The project is expanding its application in the decentralized finance (DeFi) sector, promising to create more practical utilities, thereby increasing the demand for the token.
3. Risks to consider
• Price correction risk:
With recent growth, the likelihood of a short-term correction is high if large investors take profits.
• Dependent on the overall market:
Usual continues to be influenced by Bitcoin and other major coins. If the market declines, the price of Usual may be pulled down.
4. Price prediction
• Short-term (1-3 months): If it surpasses the $0.55 mark, the price could reach $0.75 - $1.
• Long-term (2024): With strong supportive factors and favorable market conditions, the $2 mark is feasible, especially if Usual expands partnerships and increases its utility value in DeFi.
Investment strategy
• Gradually buy in at lower price ranges like $0.45 - $0.50 to accumulate.
