$USUAL #usual
Based on the chart provided, here is an analysis of the price trend for USUAL/USDT:
1. Uptrend and Distribution:
Initially, the price showed an uptrend with consecutive green candlesticks and increased volume, indicating buying interest and momentum.
A Buying Climax (BC) was identified at the peak, signaling the end of the strong upward movement. Following BC, a Phase of distribution is observed with lower highs and increased volatility.
2. Downtrend Confirmation:
A breakdown below the Preliminary Support (PS) level marks the start of a downtrend. This is accompanied by lower lows and lower highs, confirmed by selling activities such as the "-2000 Sell" and subsequent red candles with increasing volume.
3. Reversal Attempt and Secondary Buying:
Blue arrows indicate buying positions (+2000, +4000), likely during temporary pullbacks or signs of consolidation.
The price attempted to rally but failed near the resistance zones, as shown by the Sell orders placed after partial recoveries.
4. Current Trend and Outlook:
The price is currently trading at $0.7374, near a significant support zone. The red candlestick indicates further selling pressure.
If the price fails to hold this support, it could test lower levels near $0.6 or below, as suggested by the declining momentum.
Summary:
The market is in a corrective phase (downtrend) following a distribution stage. Sustained selling pressure points to potential further downside unless strong support emerges, leading to a consolidation or trend reversal.
