$USUAL Market Overview
Current Price: $1.3975
24H Range: $1.2248 - $1.4471
Momentum: +4.85% today with bullish pressure.
The price is showing signs of recovery with consistent higher lows. However, the rejection near $1.4471 indicates a potential resistance zone.
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Key Levels
Support Zones:
$1.30: Strong support where price previously consolidated.
$1.22: A key demand zone in case of further dips.
Resistance Levels:
$1.45: Immediate resistance. A breakout above this could lead to new highs.
$1.60: Major psychological level if momentum sustains.
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Trade Strategies
1. Long Trade Setup
Entry:
Ideal entry: Near $1.35 (pullback to support).
Aggressive entry: Breakout above $1.45.
Targets:
Target 1: $1.50
Target 2: $1.60
Extended Target: $1.75 (if volume confirms breakout).
Stop Loss: Below $1.30 to protect against deeper pullbacks.
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2. Short Trade Setup
Entry:
Rejection near $1.45 resistance.
Break below $1.30 support with confirmation.
Targets:
Target 1: $1.25
Target 2: $1.20
Extended Target: $1.10
Stop Loss: Above $1.47 to minimize loss on invalidated trades.
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Technical Indicators
RSI: Approaching overbought territory (~70 on shorter timeframes). Watch for divergence near resistance zones.
Volume: Increased buying pressure is required to break $1.45. Declining volume near this level suggests a possible reversal.
Trend: Higher highs and lows indicate bullish momentum, but resistance zones may lead to consolidation or temporary pullbacks.
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Predictions
Bullish Scenario:
A sustained breakout above $1.45 could target $1.60 and beyond. The upward trend remains intact as long as $1.30 holds as support.
Bearish Scenario:
If the price fails to break $1.45 and drops below $1.30, expect a retest of $1.22 or lower levels.
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Final Recommendations
Short-Term Traders: Watch for breakouts or rejections near $1.45 to confirm trade direction.
Long-Term Traders: Accumulate on dips near $1.30 for a potential breakout to higher levels.
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