#USUALSpotPrediction
This is a trading chart for the USUAL/USDT pair with a 5-minute timeframe, using Heikin Ashi candles. Here’s what can be inferred:
1. Key Levels and Price Movement:
Current Price: 0.7800 USDT, down by 7.47%.
Sell/Buy Spread:
SELL: 0.7771
BUY: 0.7777
High: 1.2073 USDT
Low: 0.7500 USDT
The price has experienced a significant drop, evident from the large red candle and the drop from equilibrium and previous support zones.
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2. Structure Changes and Patterns:
Break of Structure (BOS): Occurred at the R2 level (0.8904), indicating a shift in momentum.
Change of Character (CHoCH): Seen as the price reversed strongly, breaking below the recent support zones.
PDL (Previous Day Low): Around 0.7500 USDT, which aligns with the current low.
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3. Volume Analysis:
Several red zones with high volumes indicate strong selling pressure, especially around 0.8700 - 0.9000 USDT.
Green zones suggest buying support at key areas like 0.8135 and 0.7660 (S1).
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4. Support and Resistance:
R3 (0.9380), R2 (0.8904), and R1 (0.8611): Key resistance levels.
S1 (0.7660) and S2 (0.7366): Major supports.
Price is hovering just above S1, showing possible support but with bearish pressure.
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5. Conclusion:
The market is bearish, with strong selling momentum breaking previous support levels. If the price fails to hold S1 (0.7660), it could test S2 (0.7366) or even the low at 0.7500. A bullish reversal may require a break back above the equilibrium zone (0.8135) or R1.
Monitor for volume spikes and confirmation signals for either continuation or reversal.
