$USUAL coin analysis on the hourly frame:
Key points:
1. Current price: $0.7085 (+24.36% increase).
2. Moving averages (MA):
MA(7): 0.6818 (red line) indicates that the price is rising above the short-term average.
MA(25): 0.6565 (blue line) supports the upward trend.
MA(99): 0.7094 (yellow line) - the price is approaching the long-term average.
3. Relative Strength Index (RSI):
RSI value = 71.3, which indicates that the price has reached the overbought area. A downward correction may occur soon.
4. MACD indicator:
Fast line (DIF) = 0.0086 and slow line (DEA) = 0.0023.
The intersection of the two lines upwards indicates positive momentum and the continuation of the upward trend.
5. Volume:
A significant increase in volume, which supports the upward momentum.
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Expectation:
The current trend is bullish, but the rising RSI indicates a possible temporary correction.
Watch the resistance level at 0.7325 (previous high).
If the price breaks this level, it can continue to rise. However, if the break fails, the price may return to the support levels at 0.6612.
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Recommendation♥:
If you own the currency: You can wait to watch the break of the resistance level at 0.7325.
If you want to buy: It is preferable to wait for a possible correction near the support area 0.66-0.68.