๐ฅ๐ฅ๐ฅ technical analysis and trade signal for the $USUAL /USDT๐ฅ๐ฅ๐ฅ
Technical Analysis:
1. Current Price: $1.0532
The price has been showing a slight upward momentum (+0.72%) and is currently hovering near its mid-range for the day.
2. Support & Resistance:
Support Level 1 (S1): $1.0208 (24h Low)
Resistance Level 1 (R1): $1.1300 (recent high)
Resistance Level 2 (R2): $1.2160 (24h High)
3. Trend Analysis:
Short-Term Trend: Bullish momentum with a positive price change of +0.72%. The recent low of $1.0208 shows a solid base for price support.
Medium-Term Trend: Sideways with slight upward pressure, though there are key resistance levels to watch.
RSI: If the RSI is above 50, it indicates a bullish sentiment. If itโs nearing 70, watch for overbought conditions and potential pullback.
4. Volume: A notable volume of 285.37M USUAL and 312.52M USDT in the last 24 hours indicates active trading and liquidity, supporting both bullish and bearish scenarios.
Trade Signal:
Long Position (Buy):
Entry Point: $1.0530 (current price level)
Target Levels:
Target 1 (T1): $1.1200 (First resistance level)
Target 2 (T2): $1.1300 (Upper range resistance)
Target 3 (T3): $1.2160 (24h High resistance)
Stop Loss:
Stop Loss: $1.0200 (Below recent support level
Trade Momentum:
Bullish: The recent positive change (+0.72%) suggests buying momentum. The price is trending upwards and looks to be consolidating before testing higher resistance levels.
Watch for Breakouts: If the price breaks above $1.1300 with sustained volume, it could indicate a continuation toward $1.2160.
Risk Management: Always monitor the volume and price movement closely. If the price dips below $1.0200, it could indicate a reversal, and a re-entry strategy might be needed.
Conclusion:
The USUAL/USDT pair is showing bullish potential, but traders should be cautious of price reversals near resistance. Focus on entry points close to $1.0500 with targets at $1.1200, $1.1300, and $1.2160, while setting stop-loss orders to minimize risk.