$USUAL
USUALUSDT: A Strong Rebound Incoming? Here's Why and Entry Details position
The recent sharp correction in USUALUSDT has brought the price down to a critical level of $0.7712, which appears to be a strong support zone. The price is currently stabilizing at $0.7820, showing early signs of recovery. Let鈥檚 break down why this could be the start of a rebound
1. Critical Support at $0.77
The price tested a low of $0.7712, marking the lowest point in the last 24 hours. This zone seems to be acting as strong support, with buyers stepping in to absorb selling pressure.
2. Oversold Conditions (Potential Reversal)
The steep decline has likely pushed momentum indicators (e.g., RSI) into oversold territory, signaling a potential reversal. Oversold conditions often attract bullish momentum as prices become undervalued.
3. 24-Hour Volume & Market Strength
24h High: $0.9562
24h Low: $0.7712
A total volume of 152.80M USUAL and 130.82M USDT indicates strong market activity, suggesting there鈥檚 potential for a volume-fueled bounce.
4. Possible Short Squeeze
With such rapid price drops, many traders may have gone short. A reversal from this level could trigger a short squeeze, accelerating upward momentum.
5. Psychological Resistance Levels
A recovery could see the price testing $0.80, $0.85, and possibly $0.90 in the short term. These levels might act as psychological and technical resistances, giving traders profit-taking opportunities.
Bullish Outlook
While the price is down -15.84%, the early stabilization at $0.7820 is promising. If the support at $0.77 holds, we could see bulls stepping in to drive the price higher. A retest of the $0.80 and $0.85 levels is very much on the cards.
馃搱 Trading Idea:
Entry: Around $0.7800 - $0.7850
Target 1: $0.8000
Target 2: $0.8500
Stop Loss: Below $0.7700 (to manage risk)
馃搳 Stay updated for potential breakouts. Always trade with caution and use proper risk management!
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