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USUAL/USDT Technical Analysis & Trade Signal
Current Price: 1.1452 USDT
Technical Overview:
Trend: Bearish (Short-term price movement shows a downward trend after reaching a high of 1.4577 and then falling to 1.1101)
Support Levels:
First Support: 1.1101 (Recent low)
Second Support: 1.0971 (Strong demand zone)
Resistance Levels:
First Resistance: 1.1511 (SAR, a trend reversal level)
Second Resistance: 1.2005 (previous price action resistance)
Momentum Indicators:
RSI (Relative Strength Index): Likely below 50, showing bearish momentum.
SAR (Stop and Reverse): At 1.1511, suggesting a potential reversal point if price rises past it.
Trade Signal:
Action: Short Position (Bearish Momentum)
Entry Point: 1.1450 (near current price or upon a slight upward move)
Target Levels:
Target 1: 1.1101 (Support Level)
Target 2: 1.0971 (Strong Support Zone)
Target 3: 1.0800 (Extended downside potential)
Stop-Loss: 1.1600 (above SAR resistance level)
Momentum:
The market is showing bearish momentum as the price recently dropped from 1.4577 to 1.1452. The trend is weak, and the market is testing lower support levels. The price needs to hold below 1.1511 for continued downside pressure.
This analysis suggests short opportunities with a focus on downward targets, provided the price fails to break above 1.1511.
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