Market Sentiment and News ๐
The cryptocurrency market is facing a significant pullback, with global market capitalization dropping 4.7% in the last 24 hours to $3.68 trillion. Despite the downturn, trading volumes remain robust at $333 billion, reflecting continued activity. Interestingly, only 5 of the top 100 coins posted gains during this period.
Among major cryptocurrencies, $AVAX suffered the most, losing 26.39% to trade at $37, while Bitcoin and Ethereum followed suit with declines of 1.89% and 10.22%, respectively.
However, institutional interest persists as Bitcoin and Ethereum spot ETFs continue to report inflows. On Wednesday alone, Bitcoin ETFs registered $275 million in net inflows, while Ethereum ETFs marked their 18th consecutive day of positive movement, underscoring sustained investor confidence in these assets.
Looking ahead, Bitcoin maintains a bullish long-term outlook, with analysts projecting targets of $113,000 by mid-2025, and some suggesting a potential high of $200,000 under optimal conditions.
$USUAL Analysis and Key Metrics ๐น
Price Action (1H Chart):
USUAL is trading at $1.0468, exhibiting a bearish trend as the price remains below the 7-period MA ($1.0574) and 25-period MA ($1.1302).
The 99-period MA ($1.2011) serves as a strong resistance, highlighting potential challenges for upward momentum.
Relative Strength Index (RSI):
The RSI currently sits at 39.61, signaling bearish momentum and approaching oversold levels. This could indicate a potential short-term bounce if the trend persists.
Volume and Money Flow:
Trading volume stands at 648.636K, with sell orders outweighing buys, contributing to the downward pressure.
Money flow analysis reveals a daily net outflow, with a total loss of -51.58M USUAL, largely driven by institutional selling.
Order Flow and Margin Data:
Large orders reflect a net outflow of -22.90M, suggesting significant selling activity by institutional players.
A shift in the margin long-short ratio indicates increasing bearish sentiment among traders.
Fundamental Overview ๐
Market Cap and Rank:
USUAL ranks #153, with a market capitalization of $498.77M, demonstrating moderate strength in the altcoin market.
Volume/Market Cap Ratio:
At 164.80%, the ratio highlights strong liquidity and active trading activity despite the recent sell-offs.
Historical Price Movement:
All-Time High: $1.6356 (Dec 19, 2024) ๐
Historical Low: $0.2056 (Nov 20, 2024) ๐
Supply Dynamics:
Circulating Supply: 468.14M $USUAL
Total Supply: 4B $USUAL, indicating substantial room for future distribution.
Prediction ๐ฎ
Short-Term: USUAL may face further downside pressure, testing support at $1.00. If the RSI hits oversold levels, a brief recovery toward $1.10 is possible.
Mid-Term: Consolidation near the $1.00-$1.13 range could pave the way for a stronger rebound if market sentiment improves.
Long-Term: Given favorable market conditions, USUAL has the potential to revisit its all-time high of $1.6356, with long-term targets near $2.00-$2.50.
Disclaimer โ ๏ธ
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves substantial risk. Please conduct your own research before making investment decisions.
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Source: Binance & TradingView Data
