$USUAL /USDT
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Key Observations:
1. Price Movement:
Current price: $0.6863 (-9.47% in the last 24 hours).
Significant drop from the peak of $1.6521, indicating heavy selling pressure.
2. Moving Averages:
The price is currently below the 7-day moving average (MA7: $0.9758), which is bearish in the short term.
Lack of 25-day or 99-day MAs suggests this asset may not have an established long-term trend yet.
3. Volume:
24-hour volume: 132.40M USUAL, indicating moderate trading activity.
Volume has declined compared to the large spike seen in late November to December 2024.
4. Support and Resistance Levels:
Resistance: $0.9758 (near MA7) and $1.00 psychological level.
Support: Around $0.60, as it aligns with a previous consolidation area.
5. Trend Analysis:
A steep rise followed by a sharp decline suggests this asset experienced a "pump and dump" pattern or high volatility.
Currently, the price is in a downtrend, making lower highs and lower lows.
6. Market Sentiment:
The 7-day performance is -25.49%, reflecting bearish sentiment in the short term.
Over 30 days, a gain of 12.49% indicates the asset had a significant rally before the recent sell-off.
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Potential Strategies:
For Bulls:
Look for a break above the 7-day MA ($0.9758) and $1.00 resistance with increasing volume for a potential reversal.
Consider entering near the $0.60 support if the price consolidates and shows signs of reversal.
For Bears:
A break below $0.60 could signal further downside, with $0.50 or lower as the next potential target.
Continue shorting rallies that fail to break $0.9758.
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Risk Management:
Stop-Loss for Longs: Below $0.60.
Stop-Loss for Shorts: Above $1.00.
