"$USUAL coin under pressure: Will the price rebound after the sharp decline or will the decline continue?
Trend breakdown
Long-term trend: A sharp decline appears after the currency reached the top of 1.6521, which is an indication of the beginning of a correction or a change in trend.
Short-term trend: The current decline is still ongoing without clear signs of a rebound so far.
Momentum indicators
1. RSI (Relative Strength Index):
At 21.42, this means that the currency is in a very oversold zone.
Usually in these areas, there is a possibility of a technical rebound soon, but it depends on the size of the new demand.
2. Moving averages:
The fast exponential average (7 days) is below the slow exponential average (25 days).
This is a confirmation of the continuation of the decline.
Any breakout above the EMA(25) may be a signal of a trend change.
Volumes:
A large increase in trading volumes indicates pressure Large sell-off or exit of investors from the market.
As the price declines, this could be an indication of liquidation of short positions or exhaustion of bearish momentum.
Possible scenarios:
1. Positive scenario (bounce):
If the price rises above 0.8307 (first resistance), this could be a sign of a bounce towards higher levels, such as 1.0 or 1.2.
2. Negative scenario (continuation of the decline):
If the support at 0.6706 is broken and the selling momentum continues, the price could target lower levels such as 0.5345.
