---$USUAL
Market Update: USUAL/USDT Analysis
The USUAL/USDT pair has shown an impressive rally, currently trading at $1.16, marking a significant +13.66% gain in the past 24 hours. Here's a breakdown of the current situation:
Key Observations:
1. Strong Uptrend:
The price action is following a steep upward trajectory, as indicated by the blue trendline. This shows strong bullish momentum, driven by high trading volume (24h Vol: 1.03B USUAL / 1.02B USDT).
2. Support Zones:
Three purple zones represent critical support levels:
$0.80 - $1.00: The most immediate and likely retest zone if the price corrects.
$0.60 - $0.80: Secondary support in case of a stronger pullback.
$0.40 - $0.60: Major long-term support, which could act as a safety net in extreme volatility.
3. Volatility:
With the price reaching a 24-hour high of $1.22 and low of $0.645, volatility remains high. This suggests traders should proceed with caution, especially if looking to enter long positions.
What's Next?
Potential Scenarios:
If the uptrend holds: The price could break through the $1.22 resistance, potentially heading toward $1.50 or higher.
In case of correction: Watch for a bounce near the $1.00 support, which could provide an opportunity for re-entry.
Indicators to Watch:
Monitor trading volume for sustained buying pressure.
RSI or other momentum indicators could signal if the asset is overbought.
Trading Strategy:
For bulls: Look for retests of support zones before entering.
For bears: A breakdown below $1.00 could signal a short-term reversal.
Always remember to manage risks appropriately and use stop-losses to safeguard positions in this volatile market.