Current status:
The USUALUSDT pair is currently trading at $1.3860, showing a slight correction after testing the resistance area near $1.40. The price action reflects a consolidation phase within a narrow range, indicating an upcoming breakout.
Main levels:
• Resistance: $1.40 (highlighted in purple area on chart)
• Support: $1.35 (recent swing low)
Trading setup:
1. Long entry:
• Wait for a break above $1.40 with strong volume confirmation.
• Goal 1: $1.45
• Goal 2: $1.50
• Stop Loss: Below $1.37
2. Short entry:
• Rejection near $1.40 followed by bearish momentum.
• Goal 1: $1.35
• Goal 2: $1.30
• Stop Loss: Above $1.41
Market Overview:
The market seems ready for a big move. A break above $1.40 could trigger an upside rally, driven by sustained demand. However, failure to break this resistance could lead to a pullback towards the $1.35 area. Traders are advised to watch for confirmation signals before entering trades and manage their risk effectively.
workplan:
• Bulls should focus on a break above $1.40 to continue.
• Bears can look for rejection candles to initiate short selling near resistance.
• Beware of fake sales due to the current consolidation phase.