Here is the technical analysis of USUAL/USDT on the 15-minute, 1-hour and 4-hour charts.
15 minute plan:
1. Price Action: The price was trending downward, reaching a low of 1.1160 before a minor recovery.
2. Indicators:
Bollinger Bands: The price is sticking to the lower band, indicating bearish momentum and potential oversold conditions.
RSI: At 39, approaching oversold but not there yet. Could indicate a slight bounce.
MACD: Bearish with red bars; momentum is still down but showing slight weakness.
3. Volume: High selling volume indicates strong bearish pressure.
Verdict: A short-term pullback or consolidation is likely. I would wait for clearer signs of a reversal before entering.
---
One hour chart:
1. Price action: Still bearish, breaking important levels. The last candle shows a small recovery attempt.
2. Indicators:
Bollinger Bands: Price broke below the lower band but is trying to re-enter the band. Indicates oversold conditions.
RSI: At 25, in the oversold zone, indicating a possible short-term bounce.
MACD: Strongly bearish, but chart shows declining momentum - early signs of a possible reversal.
3. Volume: High selling volume continues, but buying pressure may start to build.
Verdict: Momentum is slowing down, but not a good time to buy yet. A break above 1.20 with confirmation would signal a recovery.
---
Four-hour chart:
1. Price Action: The overall trend is still bearish, with a clear downtrend from 1.65 to current levels.
2. Indicators:
Bollinger Bands: Price is near the lower band, consistent with an oversold scenario.
RSI: At 34, it is approaching oversold but not as extreme as the 1-hour chart. It indicates that there is room for further decline.
MACD: Still bearish, with no clear divergence to indicate a reversal yet.
3. Volume: Steady selling pressure dominates.
Verdict: The overall trend is still down. Until we see a higher top or support around 1.10, I will remain cautious.
---
General strategy:
The 15-minute and 1-hour charts indicate oversold conditions, but the 4-hour chart indicates that the overall trend is still down.
If you are trading short term, consider taking advantage of the support around 1.11 but with tight stop losses.
For swing trading, wait for a confirmed reversal or break above resistance levels like 1.20.
Trade smart and manage your risks!