Technical analysis and trade signal for the $USUAL /USDT pair based on the provided data:
Current Price: $0.7574
24h High: $0.8977
24h Low: $0.6580
Price Trend: Currently in a downtrend (-4.25%) from the 24h high of $0.8977.
Support Level: $0.6580 (24h Low)
Resistance Level: $0.8977 (24h High)
Given the price is currently closer to the support zone, a short-term rebound or reversal could be expected if buying pressure kicks in.
Indicators & Momentum:
Relative Strength Index (RSI): If RSI is near 30 (oversold), this indicates a potential buy opportunity. If RSI is above 70 (overbought), consider a potential sell signal.
MACD (Moving Average Convergence Divergence): A crossover from negative to positive could signal bullish momentum, while the opposite could suggest a bearish trend.
Trade Signal and Targets:
1. Entry Point (Buy): $0.7600 (if the price shows signs of holding above the support zone).
2. Target 1 (Short-term): $0.8000 — This is the first resistance level. Look for price action around this point to evaluate the continuation.
3. Target 2 (Medium-term): $0.8300 — If momentum continues upward, this target could be tested.
4. Target 3 (Long-term): $0.8800 — A break above the previous high could lead to further upside toward this level.
Trade Momentum:
Bullish Momentum: Buy if price holds above $0.7500 and starts showing signs of upward movement. The 24h volume and positive momentum on short-term time frames can support this.
Bearish Momentum: If price breaks below $0.7000, consider a sell or wait for confirmation of further downward movement towards the $0.6580 level.
Stop Loss: Place a stop loss around $0.7000 to protect against further downside risk.
Conclusion:
The current price is near a critical support zone, and with positive price action or volume support, a potential recovery to resistance levels is possible. Monitoring the momentum through RSI and MACD will help fine-tune entry and exit points.
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