Market Analysis Report: $USUAL USDT on Binance!🔥💯
Current Status:
The USUALUSDT pair is currently trading at $1.3860, showing a minor retracement after testing the resistance zone near $1.40. The price action reflects a consolidation phase within a tight range, hinting at an upcoming breakout.
Key Levels:
• Resistance: $1.40 (highlighted with the purple zone on the chart)
• Support: $1.35 (recent swing low)
Trade Setup:
1. Long Entry:
• Wait for a breakout above $1.40 with strong volume confirmation.
• Target 1: $1.45
• Target 2: $1.50
• Stop Loss: Below $1.37
2. Short Entry:
• A rejection near $1.40 followed by bearish momentum.
• Target 1: $1.35
• Target 2: $1.30
• Stop Loss: Above $1.41
Market Outlook:
The market appears poised for a significant move. A breakout above $1.40 could trigger a bullish rally, driven by sustained demand. However, failure to clear this resistance could result in a pullback toward the $1.35 zone. Traders are advised to watch for confirmation signals before entering trades and manage risk effectively.
Action Plan:
• Bulls should focus on a breakout above $1.40 for continuation.
• Bears can look for rejection candles to initiate shorts near resistance.
• Stay cautious of fakeouts given the current consolidation phase.