$USUAL
Based on the technical chart you provided (showing price patterns and marked trades such as Buy and Sell), here’s an analysis of the USUAL/USDT market behavior:
1. Overall Trend:
Early part of the chart: There’s a slight upward trend (price forming higher highs - UT or Upthrust), but it fails to sustain and transitions into a sharp decline.
Later part of the chart: A clear downtrend is visible (lower highs and lower lows), with minor recovery attempts but no confirmed reversal.
2. Market Behavior:
Upthrust (UT): Indicates a false breakout to the upside, signaling weakness in the prior upward trend. After the UT, the price begins to decline.
Selling Climax (SC): Several SC zones are observed, indicating strong selling pressure but also potential exhaustion of sellers.
E>R: Suggests a shift from a decline to a minor retracement phase, though it lacks momentum for a strong upward trend.
3. Trading Strategy:
The marked Buy (+2000) and Sell (-2000) entries reflect a strategy based on resistance and support levels. "Close entry(s) order Buy" at low points indicates profit-taking or capital preservation after small gains.
4. Support and Resistance:
Resistance: The 0.89–0.90 level is a key zone where price struggles to break above, triggering declines.
Support: The 0.69–0.70 level is acting as strong support, with buying signals (Buy orders) appearing around this range.
5. Conclusion:
The overall trend remains bearish; caution is advised for short-term trades.If the price breaks below the 0.69 support, the downtrend is likely to continue. Conversely, if the price exceeds the 0.80 resistance with strong volume, a potential reversal may be confirmed.