Current Price:
The current price of $USUAL is 0.6220 USDT, reflecting a 11.97% decrease. Several key points should be noted:
Technical Analysis
1. Resistance Levels:
The price is trading below a critical resistance zone of 0.73-0.74 recorded in the past 24 hours, indicating strong selling pressure at these levels.
2. RSI Indicators:
The RSI (12) is at 64.85, showing the market is nearing overbought territory on the daily timeframe. A further correction is likely before the price attempts to rise again.
3. Trading Volume:
High trading volumes reflect significant buyer and seller activity, but the decline accompanied by high volume suggests sellers are currently stronger.
4. Market Trend:
The price remains above the moving averages (MA), signaling an overall bullish trend. However, caution is advised due to the ongoing correction.
Possible Scenarios
1. Before Pre-Market Closes:
A bullish bounce could occur if buyers step in, pushing the price closer to the resistance zone (0.73 or higher).
2. After Listing (December 18):
If demand from Binance traders increases, the price might break the 0.73-0.74 resistance.
If selling pressure persists, the price could decline further to support levels around 0.55 or lower.
Practical Tips
1. For Long-Term Holders:
Wait for the volatility caused by the listing to subside.
Have a clear exit strategy in case the price drops to critical levels (e.g., 0.50).
2. If Considering Averaging Down:
Buying more at strong support levels (0.55-0.50) could reduce the average purchase cost. Be aware of potential risks.
3. Monitor the Listing Event:
Listing events often trigger strong price movements. Use a sudden spike to exit or minimize losses if needed.
Final Insights
Keep an eye on the 0.73-0.74 resistance zone and the 0.60-0.55 support range.
The market remains bullish overall but is vulnerable to corrections in the short term.
Actionable Strategy: Stay cautious and adapt your plan based on market movements around the listing date.
