The $USUAL /USDT pair has experienced significant volatility recently, with a sharp rise followed by a noticeable retracement. The price is currently trading at $0.9128, down 14.18% in the last 24 hours, and 24.57% over the past week. Despite this pullback, the pair boasts an impressive 200% gain over the past 30 days.
Technical Overview
Resistance Levels:
The first resistance stands at $1.01 (7-day moving average), followed by a strong resistance zone near $1.10, where recent selling pressure intensified.
Support Levels:
Immediate support lies near $0.90, the current 24-hour low. If this level breaks, the next critical support zone is at $0.53, reflecting prior consolidation.
Volume and Momentum:
Volume has been decreasing since the peak at $1.6521, suggesting waning buyer interest.
Breakout and Trading Signals
Bullish Signal: A breakout above $1.10 with increased volume would confirm a potential bullish reversal. Traders should look for sustained momentum beyond this level.
Bearish Signal: A breakdown below $0.90 could trigger further downside toward $0.53, providing short-selling opportunities.
Trading Strategies
1. Short-Term Trades:
Buy: Enter positions if the price breaks above $1.10 with strong volume confirmation.
Sell: Short below $0.90, targeting $0.53.
2. Long-Term Approach:
Investors are advised to wait for stabilization near $0.90 or consider accumulating at lower levels around $0.53 for a favorable risk-reward ratio.
Conclusion
At the current price, the market shows bearish momentum in the short term. Traders should remain cautious and prioritize risk management. For now, patience is key, as a clearer trend will emerge with a decisive move above $1.10 or below $0.90.
